Pending Home Sales Show Another Gain

Pending Home Sales Show another Gain

For the second consecutive month, pending home sales have increased. The Pending Home Sales Index, a leading indicator of housing activity released by the National Association of Realtors (NAR) each month, rose 4.3 percent based on contracts signed in August. The index, which reflects signed contracts and not closings, rose from 78.9 percent in July to 82.3 percent in August.

The increase is consistent with a gradual improvement in home sales according to NAR. Appealing affordability from these historically low mortgage rates seems to be brining buyers back into the market. Of course, the rate of recovery in the housing market still depends a lot on job creation and a rise in consumer confidence.
Current low consumer price inflation has helped keep these attractive mortgage rates, but a sudden rise in mortgage rates could slow the recovery, which simply reiterates the fact that now is the time to buy.

Your mortgage. Your way.

Get started on your Digital Mortgage!
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.