Morning Minute: U.S. pending home sales up slightly in June

The National Association of REALTORS® (NAR) reports today that its Pending Home Sales Index, which tracks contract signings, moved marginally higher in June with a 0.2 percent increase compared to the month before. Tight housing inventory and rising prices are continuing to impact the market and potential homebuyers, said NAR Chief Economist Lawrence Yun.

“Until inventory conditions markedly improve, far too many prospective buyers are likely to run into situations of either being priced out of the market or outbid on the very few properties available for sale,” Yun said. Read more and watch a short video with Yun.

In other headlines:

What Are Americans’ Top Housing Concerns? – Daily Real Estate News (REALTOR® Magazine)

New home sales reach 8-year high – HousingWire

 

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