Tag Archives: Pending Home Sales Decline in April but Up Strongly From a Year Ago

Pending home sales retrenched in April following three consecutive monthly gains, but are notably higher than a year ago, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 5.5 percent to 95.5 from a downwardly revised 101.1 in March but is 14.4 percent above April 2011 when it was 83.5. The data reflect contracts but not closings. Lawrence Yun, NAR chief economist, said a one-month setback in light of many months of gains does not change the fundamentally improving […]