{"id":5529,"date":"2023-05-25T20:53:40","date_gmt":"2023-05-25T20:53:40","guid":{"rendered":"https:\/\/realestateagentmagazine.com\/?p=5529"},"modified":"2023-05-25T20:53:40","modified_gmt":"2023-05-25T20:53:40","slug":"pending-home-sales-recorded-no-change-in-april","status":"publish","type":"post","link":"https:\/\/realestateagentmagazine.com\/pending-home-sales-recorded-no-change-in-april","title":{"rendered":"Pending Home Sales Recorded No Change in April"},"content":{"rendered":"<p><strong><u>Key Highlights<\/u><\/strong><\/p>\n<ul type=\"disc\">\n<li>Pending home sales were unchanged in April.<\/li>\n<li>Month over month, contract signings improved in three U.S. regions but dropped in the Northeast.<\/li>\n<li>Pending home sales fell in all four regions compared to one year ago.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>WASHINGTON, D.C.\u2014Pending home sales recorded no change in April, according to the National Association of Realtors<sup>\u00ae<\/sup>. Three U.S. regions posted monthly gains, while the Northeast decreased. All four regions saw year-over-year declines in transactions.<a name=\"x_x__Hlk41484024\"><\/a><\/p>\n<p>The\u00a0<a href=\"https:\/\/link.mediaoutreach.meltwater.com\/ls\/click?upn=VeAO2BDYBwMOIcllAbzjl9Mu29OECpf-2FOakHhS8jdcJAh0yV5iaUaJ8JWX5DEgCGSNqKipyO9dpsjPImxUjZ-2FfOfzz3RKxblFKvXQGw7YiVoaPoQHVBBJtwjscwKr0NchZCx_yv-2FfUUhElVy-2FWH4w2IjoYM-2Fc4cSJxKO3Mk9Ocg3u8SSKD7UstZTPTCNAZ9R3zrKHCeX1xpYmNoWR70PjcsuLhnoV1ym5fHapLowAt322AIqgCivggNLR4JF9JkNdJM2vrs7tVT635JuDcp3rgtOllOAqzIefsiZ8yX9kGs8bEXxTh-2BIvOOtKYT4q88PBxdwX4zfJOrPTUnHHujocCaLiH6a5DnlO9JuQx-2FzRlpeWAaQzddWX0et1j1G9Z1VOtQxJ42dFdax604amLMtHjkIx7Mx-2FuJEXfE9mFxhI2UB4FGWILP2sv-2FM7SE7K8zcc6a6ebg7VEh06x-2BaTADDiVJUXiZvhh9bLvy43LTsyXdJTmfboK2-2BKZjw16OwcuD3vbFt6wYJkXkXcVfddnd6SFUF3Ag-3D-3D\" target=\"_blank\" rel=\"nofollow noopener\" data-auth=\"NotApplicable\" data-linkindex=\"1\"><strong>Pending Home Sales Index (PHSI)<sup>*<\/sup><\/strong><\/a><a name=\"x_x__Hlk41483624\"><\/a>\u00a0\u2013 a forward-looking indicator of home sales based on contract signings \u2013 remained at 78.9 in April,\u00a0posting no change from the previous month. Year over year, pending transactions dropped by 20.3%. An index of 100 is equal to the level of contract activity in 2001.<a name=\"x_x__Hlk72857016\"><\/a><a name=\"x_x__Hlk83719194\"><\/a><\/p>\n<p>\u201cNot all buying interests are being completed due to limited inventory,\u201d said NAR Chief Economist Lawrence Yun. \u201cAffordability challenges certainly remain and continue to hold back contract signings, but a sizeable increase in housing inventory will be critical to get more Americans moving.\u201d<\/p>\n<h2><a name=\"x_x__Hlk93934731\"><\/a><strong>Pending Home Sales Regional Breakdown<\/strong><\/h2>\n<p>The Northeast PHSI dropped 11.3% from last month to 59.1, a decrease of 21.8% from April 2022. The Midwest index improved 3.6% to 78.4 in April, down 21.4% from one year ago.<\/p>\n<p><a name=\"x_x__Hlk80972765\"><\/a>The South PHSI increased 0.1% to 99.6 in April, sinking 16.7% from the prior year. The West index augmented 4.7% in April to 62.2, sliding 26.0% from April 2022.<\/p>\n<p>\u201cMinor monthly variations in regional activity are typical,\u201d said Yun. \u201cHowever, cumulative results over many years clearly point towards a much greater number of home sales in the South.\u201d<\/p>\n<p>At 99.6, the PHSI in the South is only slightly lower than 100, which is equal to the average level of contract activity during 2001, the first year NAR analyzed the PHSI.<\/p>\n<p>\u201cThe South\u2019s pending home sales activity is similar to that of 2001, but the Midwest\u2019s activity has decreased by 22% in that same period, and the Northeast and West regions are both about 40% lower than they were in 2001,\u201d Yun added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Highlights Pending home sales were unchanged in April. Month over month, contract signings improved in three U.S. regions but dropped in the Northeast. Pending home sales fell in all four regions compared to one year ago. &nbsp; WASHINGTON, D.C.\u2014Pending home sales recorded no change in April, according to the National Association of Realtors\u00ae. Three [&hellip;]<\/p>\n","protected":false},"author":45,"featured_media":5534,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-5529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/posts\/5529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/comments?post=5529"}],"version-history":[{"count":5,"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/posts\/5529\/revisions"}],"predecessor-version":[{"id":5535,"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/posts\/5529\/revisions\/5535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/media\/5534"}],"wp:attachment":[{"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/media?parent=5529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/categories?post=5529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/realestateagentmagazine.com\/wp-json\/wp\/v2\/tags?post=5529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}