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Pending Residence Gross sales Hit the Lowest Degree Since 2020 and Fall 3.9% in April 2022


NAR launched a abstract of pending dwelling gross sales information displaying that April’s pending dwelling gross sales tempo decreased 3.9% final month and dropped 9.1% from a 12 months in the past.

Bar graph: Pending Home Sales, April 2021 to April 2022

Pending gross sales signify houses which have a signed contract to buy on them however have but to shut. They have a tendency to guide existing-home gross sales information by one to 2 months.

All 4 areas of the U.S. confirmed declines from a 12 months in the past. The Northeast had the most important dip of 14.3%, adopted by the West with a drop in contract signings of 10.5%. The South fell 10.3%, adopted by the Midwest with the smallest decline of two.8%.

Bar graph: April U.S. and Regional Pending Sales in 2022 and 2021

From final month, three of the 4 areas confirmed fewer contract signings. The Midwest area had the one achieve, at 6.6%. The Northeast area had the most important dip of 16.2%, adopted by the South with a lower of 4.7%. The West had the smallest decline of 4.3%.

The U.S. pending dwelling gross sales index degree for the month was 99.3.

April’s contract signings deliver the pending index beneath the 100-level mark for the primary time since April 2020, when the index was 71.6.

Line graph: Pending Home Sales Index, January 2019 to April 2022

The 100 degree relies on a 2001 benchmark and is per existing-home gross sales above the 5 million mark.



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