The change in pending home sales in the United States was 0% monthly in Aprilbelow the +1% estimated by the consensus, although improving the fall of 5.2% seen in March.
Pending home sales were flat in April, according to the National Association of REALTORS®. Three US regions posted monthly gains, while the Northeast declined. All four regions saw year-on-year declines in transactions.
On a year-over-year basis, sales fell 20.3%, improving on the 23.2% decline seen the previous month and the 22.5% decline expected for today. This is the twenty-third consecutive month of declines for the indicator.
“Not all purchasing interests are being completed due to limited inventory,” said the NAR Chief Economist Lawrence Yun. “Affordability challenges certainly persist and continue to hold back contract signings, but a significant increase in housing inventory will be critical to getting more Americans to move.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
