REALTOR® Magazine | Melissa Dittmann Tracey
Real estate professionals are drafting more purchase contracts as pending home sales surge to a 21-month high. Read more from NAR’s latest housing report.
After home sales hit a 15-month low in summer, the housing market has been shifting toward the rosy real estate outlook economists are predicting for 2025.
In the latest sign of improvement, pending home sales—a gauge of future home sales based on contract signings—rose 2.2% month over month in November, the National Association of REALTORS® reports. Marking the fourth consecutive month of increases, contract signings are up nearly 7% from a year ago and are at their highest level since February 2023.
“Consumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory,” says NAR Chief Economist Lawrence Yun.
Read the full article: Contract Signings Point to Healthier Market for Home Buyers
