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Updated 9 months ago on . Most recent reply

Gregory Reeves's profile image
Gregory Reeves's profile image
Gregory Reeves
  • Real Estate Consultant
  • from Dallas, US Texas
  • Member since May 23, 2024
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Gregory Reeves's profile image
Gregory Reeves's profile image
Gregory Reeves
  • Real Estate Consultant
  • from Dallas, US Texas
  • Member since May 23, 2024
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Gregory Reeves
  • Real Estate Consultant
  • Dallas, US Texas
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Buying & Selling Real Estate

Pending Home Sales Decline

Gregory Reeves
  • Real Estate Consultant
  • Dallas, US Texas
Posted

Pending home sales declined 7.7% compared to last month, and are down 7.4% compared to one year ago. Why does this matter? Pending sales are a forward-looking indicator of home sales based on contract signings. April's data is a sign of weakening demand. Mortgage rates surpassed 7% in April, dampening affordability and keeping buyers off the market. While inventory has picked up, you can't buy what you can't afford.

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