More great news with Biden's plan to drag the economy down while burying us in debt.
The NAR said its pending home sales index fell 7.7% in April to 72.3 from an upwardly revised 78.3 reading in March.
The drop was the largest since February 2021 and the index level was the lowest since the record-low reading of 71.8 in April of 2020.
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Pending home sales plunge to lowest level since pandemic began
Contract signings for US home purchases fell by the most in three years in April and the overall level of activity was the lowest since the onset of the COVID-19 pandemic in the spring of 2020, as high interest rates keep a lid on the housing market, the National Association of Realtors said Thursday.The NAR said its pending home sales index fell 7.7% in April to 72.3 from an upwardly revised 78.3 reading in March.
The drop was the largest since February 2021 and the index level was the lowest since the record-low reading of 71.8 in April of 2020.
Pending home sales plunge to lowest level since pandemic began
“The impact of escalating interest rates throughout April dampened home buying, even with more inventory in the market,” NAR’s chief economist said.
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