Rising home prices and mortgage rates stifled pending home sales in February, according to the National Association of Realtors on Thursday. The Pending Home Sales Index, which is a forward-looking indicator based on contract signings, was 75.6 in February. The maximum score on the scale is 100, which represents the contract activity seen in 2001. February’s performance marks a 7 percent annual decline; however, it is a slight improvment from the previous month (+1.6 percent).
Source: Inman News
Steep home-price growth hampers February pending sales
Published in high home prices, home prices, home prices growth, Markets & Economy, pending home sales, pending sales and Select
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