US Real Estate

US Pending Home Sales Drop More Than Expected in July

Year over year, national pending home sales saw a 0.7 percent increase.
US Pending Home Sales Drop More Than Expected in July
A "sale pending" sign in front of a home for sale in San Rafael, Calif., in November 2011. Justin Sullivan/Getty Images
Mary Prenon
Mary Prenon
Freelance Reporter
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An Aug. 28 report from the National Association of Realtors (NAR) showed that U.S. home sales fell by 0.4 percent in July, a larger decline than the consensus estimate of 0.1 percent.

The Northeast experienced the biggest month-over-month decrease at 0.6 percent, followed by the Midwest at 0.4 percent. The South remained flat, falling by just 0.1 percent. Only the West saw gains, with a 3.7 percent month-over-month uptick.

Mary Prenon
Mary Prenon
Freelance Reporter
Mary T. Prenon covers real estate and business. She has been a writer and reporter for over 25 years with various print and broadcast media in New York.