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Pending Home Sales Fall, Pointing Toward Market Turnaround

probuilder.com
 2021-07-30

Cover picture for the articlePending home sales for existing homes fell 1.9% in June from May as homebuyers continue to pull back amid escalating home prices. These pending sales represent closed sales in one to two months. CNBC reports existing home sales were also down 1.9% compared to June 2020 levels and prices were up 17% year over year in May, marking the largest annual gain on record. Home prices continue to increase due to low inventory, says CNBC, but relief is on its way: The number of newly listed homes in June increased 5.5% compared to June 2020.

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