The National Association of Realtors is reporting that pending home sales rose 7.4% in in September, 2024. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 75.8 in September. However, the NAR says to expect a slower rate of growth over the next couple years.
“After two years of sluggish home sales in 2023 and 2024, existing-home sales are forecasted to rise to 4.47 million in 2025 and more than 5 million in 2026…During the next two years, expect a slower rate of growth in home prices that’s roughly in line with the consumer price index because of additional supply reaching the market.” Said the NAR’s Chief Economist, Lawrence Yun.
