(CercleFinance.com) – Promises to sell in American real estate increased by 0.7% in May compared to April, the National Federation of Realtors (NAR) announced on Monday.
The statistic was mainly driven by a 15.4% surge in sales promises in the north-east of the country, an increase which was also accompanied by double-digit growth rates in the south and west of the country. .
Sales promises, on the other hand, fell 8.8% in the Midwest.
For Lawrence Yun, the chief economist of the NAR, the rise in May should not overshadow the fact that the American real estate market is today in a phase of ‘transition’.
From one year to the next, the statistics also show a decline of 13.6%, a decline that the NAR attributes to the rise in mortgage rates against a backdrop of monetary tightening in the United States.
The barometer of promises to sell is considered a leading indicator of the real estate market insofar as promises to sell materialize in the form of firm sales a few months later.
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
