Pending home sales down in June
An increase in interest rates contributed to pending home sales falling 0.4 percent from May, experts say.
An increase in interest rates contributed to pending home sales falling 0.4 percent from May, experts say.
By SoldAtTheTop, Guest blogger
Today, the National Association of Realtors (NAR) released their Pending Home Sales Report for June showing that pending home sales declined with the seasonally adjusted national index falling 0.4% from May but increasing 10.9% above the level seen in June 2012.聽
Meanwhile, the NARs chief economist Lawrence Yun is suggests that the recent run-up in interest rates worked to depress the latest read of contract activity:聽