Didn't the Trump administration predict a V shaped economy?
July pending home sales jump over 15% annually, as properties go under contract in record time
Pending home sales, which measure signed contracts to purchase existing homes, increased 5.9% in July compared with June, according to the National Association of Realtors. Sales were 15.5% higher annually
"We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market," said Lawrence Yun, the NAR's chief economist. "Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings."
"Anecdotally, Realtors are telling me there is no shortage of clients or home seekers, but that scarce inventory remains a problem," Yun said. "If 20% more homes were on the market, we would have 20% more sales, because demand is that high."
July pending home sales jump over 15% annually, as properties go under contract in record time
- Pending home sales, which measure signed contracts to purchase existing homes, increased 5.9% in July compared with June, according to the National Association of Realtors.
- Sales were 15.5% higher annually.
- "Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings," said the NAR's chief economist, Lawrence Yun.
Pending home sales, which measure signed contracts to purchase existing homes, increased 5.9% in July compared with June, according to the National Association of Realtors. Sales were 15.5% higher annually
"We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market," said Lawrence Yun, the NAR's chief economist. "Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings."
"Anecdotally, Realtors are telling me there is no shortage of clients or home seekers, but that scarce inventory remains a problem," Yun said. "If 20% more homes were on the market, we would have 20% more sales, because demand is that high."
