The pending sales index, a forward-looking indicator based on signed contracts to buy a home, rather than the final sales that are accounted for in existing home sales, was at 76.8 in June. An index of 100 is equal to the level of contract activity in 2001. Year over year, pending transactions fell by 15.6%.
“The recovery has not taken place, but the housing recession is over,” said NAR Chief economist Lawrence Yun on Thursday. “The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. Homebuilders are ramping up production and hiring workers.” This story is developing and will be updated.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grimace shakes help send McDonald's sales surging | CNN BusinessWhen McDonald’s introduced a limited-edition purple shake in honor of Grimace’s birthday, it probably didn’t expect the item to go viral on TikTok quite like it did: With TikTokers showing themselves sipping the dessert drink and then, soon after, writhing in mock pain or playing dead.
Source: cnni - 🏆 326. / 59 Read more »
Japan's business services inflation slows in JuneJapan's business-to-business service inflation slowed in June, data showed on Wednesday, suggesting that companies remained slow in passing on rising labour costs despite a tight job market.
Source: Reuters - 🏆 2. / 97 Read more »
US gas prices climb to an eight-month high | CNN BusinessThe US average for regular gasoline climbed another two cents on Thursday to $3.71 a gallon, according to AAA
Source: CNN - 🏆 4. / 95 Read more »
Gas prices just saw their biggest one-day increase in a year | CNN BusinessThe monthslong calm in gas prices is over. The national average price for a gallon of regular gasoline surged by 4 cents on Tuesday to $3.64, according to AAA.
Source: CNN - 🏆 4. / 95 Read more »