US Pending Home Sales Stall on Lack of Available Properties
- NAR index of contract signings for existing homes held at 78.9
- Sales slumped in Northeast, while rest of country showed gains
Residential homes in Lithonia, Georgia.
Photographer: Elijah Nouvelage/BloombergThis article is for subscribers only.
US pending home sales stagnated in April as high mortgage rates paired with limited inventory continued to curb buyer demand.
The National Association of Realtors’ index of contract signings to purchase previously owned homes held at 78.9 last month, according to data released Thursday. The median estimate in a Bloomberg survey of economists called for a 1% advance.