Pending home sales decreased 1.8% on an adjusted basis in July compared with June and were down 8.5% compared with July 2020, according to the National Association of Realtors (NAR).
It was the second consecutive month that pending home sales decreased.
Regionally, and month-over-month, pending home sales fell 6.6% in the Northeast, 3.3% in the Midwest, and 0.9% in the South. Contract signings increased 1.9% in the West.
Year-over-year, contract signings fell in all