Pending home sales in the US were down 8.5% yoy in July of 2021, a second consecutive drop, amid limited supply. All four regions saw transactions decrease year-over-year. Compared to the previous month, pending sales dropped 1.8%, compared to market forecasts of a 0.4% rise. Only the West region registered a month-over-month gain in contract activity, while the other three major regions reported drops. "The market may be starting to cool slightly, but at the moment there is not enough supply to match the demand from would-be buyers. That said, inventory is slowly increasing and home shoppers should begin to see more options in the coming months", said Lawrence Yun, NAR's chief economist. source: National Association of Realtors
Pending Home Sales in the United States averaged 1.47 percent from 2002 until 2021, reaching an all time high of 51.70 percent in April of 2021 and a record low of -33.60 percent in April of 2020. This page provides the latest reported value for - United States Pending Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Pending Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.
Pending Home Sales in the United States is expected to be -4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Pending Home Sales is projected to trend around 1.70 percent in 2022, according to our econometric models.