Limited Supply Drives Down Pending Home Sales

A lack of inventory drove down pending home sales for the third time in four months to the lowest level in seven months.

After making adjustments for seasonal factors, the Pending Home Sales Index came in at 108.5 for the month of August.

The index, a forward-looking indicator based of contract signings fell from the downwardly revised 111.2 the prior month.

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From:: Financing