Found 1 blog entry tagged as recovery.

(Witthaya Prasongsin/Getty Images)

Realtor.com writes, "the numbers: U.S. pending-home sales fell in May, the National Association of Realtors said on Thursday but the housing market is still showing signs of being in recovery mode.

Demand for homes is still strong, despite mortgage rates hovering near 7%, but buyers are finding few properties for-sale to choose from as homeowners hold out on selling.

The shortage in housing inventory has become so dire that it’s pushed pending home sales down in the spring, which is generally the peak season for home-buying.

Sales fell by 2.7% from the previous month, according to the monthly index released Thursday by the National Association of Realtors (NAR).

The figure fell short of expectations on Wall Street. Economists expected…

297 Views, 0 Comments