• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Republica Press

Your Business & Political News

REPUBLICA PRESS
Your Business & Political News

  • Home
  • AI
  • BUSINESS
  • POLITICS
  • REAL ESTATE
  • About/Contact
    • Privacy Policy

July 2022 Pending Home Sales Falls to the Lowest Pace Since April 2020

by

NAR released a summary of pending home sales data showing that July’s pending home sales pace weakened 1.0% last month and fell 19.9% from a year ago. The last time the index was that low was April of 2020 during the pandemic, and the index was 71.6.

Bar graph: Pending Home Sales Index, July 2021 to July 2022

Pending sales represent homes with a signed contract to purchase but which have yet to close. They tend to lead existing-home sales data by 1 to 2 months.

All four regions showed double-digit declines from a year ago. The West had the most significant dip of 30.1%, followed by the South with a drop in contract signings of 20%. The Northeast fell 15.4%, followed by the Midwest with the smallest decline of 13.4%.

Bar graph: July U.S. and Regional Pending Sales, 2022 and 2021

From last month, three of the four regions showed reductions in contract signings. The West region had the only gain of 2.2%. The Midwest had the most significant dip of 2.7%, followed by the Northeast with a decrease of 1.9%. The South had the smallest decline of 1.1%.

The U.S. pending home sales index level for July was 89.8.

July’s contract signings bring the pending index below the 100-level mark for the fourth consecutive month.

Line graph: U.S. and Regional Pending Home Sales Index, January 2019 to July 2022

The 100 level is based on a 2001 benchmark and is consistent with existing home sales above the 5 million mark.

View

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Filed Under: REAL ESTATE

Primary Sidebar

More to See

Profits at big US banks show few signs of industry distress

NEW YORK (AP) — The nation's largest banks appear to be weathering the current turmoil in their industry just fine.Despite a pair of historical … [Read More...] about Profits at big US banks show few signs of industry distress

Award-Winning Realtor Josh Meacham Announces New Office Location In Pinetop, Arizona

Josh Meacham, West USA Realty – Pinetop-Lakeside, AZ Pinetop-Lakeside, Arizona, March 10, 2023 (GLOBE NEWSWIRE) -- Josh Meacham is excited … [Read More...] about Award-Winning Realtor Josh Meacham Announces New Office Location In Pinetop, Arizona

SAE Taipei’s WCX 2023 Delegation Aims to Promote Biz Exchanges in the US

TAIPEI, April 15, 2023 /PRNewswire/ — Taiwan’s SAE Taipei Section is sending a delegation led by Jerry Wang, 29th Chairman and Chairman of the … [Read More...] about SAE Taipei’s WCX 2023 Delegation Aims to Promote Biz Exchanges in the US

Copyright © 2023 · Republica Press · Log in · As an Amazon Associate we earn from qualifying purchases.

Terms and Conditions - Privacy Policy