A leading indicator of the health of the housing market is showing signs that the hot housing market may be cooling off.
The National Association of Realtors’ (NAR) Pending Home Sales Index, which tracks the number of homes that are under contract to be sold, fell 4.4% in April from the previous month. The results are a huge disappointment, with analysts expecting a 0.4% increase, according to Bloomberg consensus estimates. And it reverses a pending home sales rebound in March. The NAR…
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