The National Association of Realtors is reporting that pending home sales were down 2.3% in September, 2021. The NAR's Pending Home Sales Index (a forward-looking indicator based on contract signings) fell to 116.7. The NAR says housing supply remains low but they expect inventory to turn the corner in 2022. Indeed...
"Some potential buyers have momentarily paused their home search with intentions to resume in 2022."
"Rents have been mounting solidly of late, with falling rental vacancy rates...This could lead to more renters seeking homeownership in order to avoid the rising inflation, so an increase in inventory will be welcomed." Said Lawrence Yun, the NAR's Chief Economist.
Click here to read the full report at the National Association of Realtors.
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