Having rebounded 44 percent in May and then jumped another 16.6 percent in June, following two months of twenty-plus percent declines, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, ticked up 5.9 percent in July to 122.1, which is 15.5 percent above its mark at the same time last year.
Out West, the index ticked up 6.8 percent in July to 106.4, which is 13.2 percent above its mark at the same time last year.
And as such, the National Association of Realtors is now projecting that total home sales in the U.S. will actually end the year up 1.1 percent versus 2019. We’ll keep you posted and plugged-in.