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NAR: Pending home sales tumble in May for third straight month

Jun 29, 2017
The ongoing supply shortages that are propping up home prices in many metro areas caused pending home sales in May to slump for the third consecutive month, according to the National Association of REALTORS’ Pending Home Sales Index, a forward-looking indicator based on contract signings. 

In the Northeast, pending home sales decreased 0.8 percent to 96.4 in May, but remain 3.1 percent above a year ago.

Nationwide, pending home sales also fell 0.8 percent to 108.5, 1.7 percent below a year ago.

Learn more.
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Empire State home sales stay at elevated level during April

Against the backdrop of fewer homes on the market, homebuyers in New York State closed 8,640 sales during April, falling only 2.6 percent from April 2017. The median sales price growth trend continued, increasing by nearly 12 percent compared to last April to reach $260,000 for the month. Click here to read more.

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