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GFOA Annual Fall Conference

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US pending home sales improved in June

Monday, July 31, 2017   (0 Comments)
Posted by: Brian Pontious
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http://newjersey.news12.com/story/36009668/us-pending-home-sales-improved-in-june

 

WASHINGTON (AP) - Americans signed more contracts to buy homes in June, snapping a three-month decline in pending sales.

The National Association of Realtors said Monday that its pending home sales index rose 1.5 percent in June to 110.2. The gain still puts the pace of contract signings below its March level. The index has increased just 0.5 percent over the past 12 months.

The U.S. housing market is increasingly confronted with a shortage of properties listed for sale. In the aftermath of the housing bubble bursting a decade ago, there are multiple reasons for the lack of homes available to buy. Investors that bought foreclosed houses during the downturn are now renting them at a tidy profit, while many existing homeowners say they cannot afford the down payment to sell their house and buy a more expensive property.


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