Pending Home Sales Rise To Highest Levels In Nearly Three Years: NAR Chief Economist Says ‘Homebuyer Momentum Is Building’
Synopsis
According to data from the National Association of Realtors, pending home sales rose 3.3% in November compared to October.
Pending home sales rose to their highest levels in nearly three years on the back of building homebuyer momentum.
According to data from the National Association of Realtors (NAR), pending home sales rose 3.3% in November compared to October, beating a Dow Jones estimate of 1%, as cited by MarketWatch. On a year-on-year basis, the gain stood at 2.6%.
The NAR also revised the October gains upwards to 2.4% from 1.9%.
“Homebuyer momentum is building. The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023,” said NAR Chief Economist Lawrence Yun.
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