U.S. Pending Home Sales Index Falls to Lowest in Records to 2001

An index of contract signings for purchases of previously owned U.S. homes slumped to a record low in April as coronavirus lockdowns thwarted prospective buyers.

Pending home sales decreased 21.8% to a level of 69, the lowest in records back to 2001, after falling 20.8% in March, according to National Association of Realtors data Thursday. The monthly decline was the largest since May 2010 and compared with the median forecast in a Bloomberg survey for a 17.3% drop. Contract signings plummeted 34.6% from a year earlier on an unadjusted basis.