Skip to content
Subscriber Only

Gain in U.S. Pending Home Sales Shows Market Is Stabilizing

Updated on

A rebound in contract signings for the purchase of previously owned U.S. homes shows housing demand is stabilizing after a three-month downturn, National Association of Realtors figures released Monday showed.

The increase puts the group’s gauge in line with its average since the start of 2016 and shows growth in the residential real estate market is being sustained while contributing little to the economy. Housing remains driven by trade-up purchasers who have taken advantage of low mortgage rates and are taking in stride higher asking prices. Limited choices of cheaper properties, however, are hindering entry-level buyers.