“July pending home sales jump over 15% annually, as properties go under contract in record time”
August 31, 2020
“Pending home sales, which measure signed contracts to purchase existing homes, increased 5.9% in July compared with June, according to the National Association of Realtors. Sales were 15.5% higher annually
“We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market,” said Lawrence Yun, the NAR’s chief economist. “Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”
Yun said he does not expect sales to drop off in the historically slower fall season. He is predicting existing home sales to increase to a 5.8 million annualized pace in the second half of this year. That would bring the full-year total to 5.4 million, a 1.1% gain compared with 2019…”
https://www.cnbc.com/2020/08/27/july-pending-home-sales-jump-over-15percent-annually.html