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| Sponsored by Quicken Loans |
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| Pending Home Sales Strained |
| By RISMedia Staff |
March's pending home sales strained, up a paltry 0.4 percent in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). Two of the major regions in the U.S. experienced higher sales, with the Midwest gaining 2.4 percent and the South gaining 2.5 percent, but in the Northeast, sales slipped 5.6 percent, and in the West, slumped 1.1 percent. "Healthy economic conditions are creating considerable demand for purchasing a home, but not all buyers are able to sign contracts because of the lack of choices in inventory," says Lawrence Yun, chief economist at NAR. "Steady price growth and the swift pace of listings coming off the market are proof that more supply is needed to fully satisfy demand. ...
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