Morning Minute: U.S. pending home sales hit nine-year high, NAR reports

Homebuyer demand is growing stronger as evidenced by the latest Pending Home Sales Index, which in April climbed to its highest level since May 2006, according to the National Association of REALTORS® (NAR). April also marked the eighth consecutive month of year-over-year gains. Read a news release and watch a video from NAR.

“REALTORS® are saying foot traffic remains elevated this spring despite limited — and in some cases severe — inventory shortages in many metro areas. Homeowners looking to sell this spring appear to be in the driver’s seat, as there are more buyers competing for a limited number of homes available for sale,” said NAR Chief Economist Lawrence Yun.

In other headlines:

Realtor.com: Waiting to buy a home could cost tens of thousands – HousingWire

Mortgage Rates Reach 2015 High – Freddie Mac

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