February 1, 2023

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March US pending home sales +1.9% vs +4.4% expected

1 min read

“The increase in pending sales transactions for the month of March is
indicative of high housing demand,” said Lawrence Yun, NAR’s chief
economist. “With mortgage rates still very close to record lows and a
solid job recovery underway, demand will likely remain high.”

“Low inventory has been a consistent problem, but more inventory will
show up as new home construction intensifies in the coming months, as
well as from a steady wind-down of the mortgage forbearance program,”
Yun continued. “Although these moves won’t immediately replenish low
supply, they will be a step forward.”

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