November 13, 2024 11:36 pm
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Pending home sales fall 2.4% in August

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Economist cites run-up in prices in recent years, shortage of for-sale homes

By Josh Mitchell | The Wall Street Journal

The number of homes in the U.S. that went under contract fell in August to the lowest level since January, the latest sign the housing market lost momentum in recent months.

An index of pending home sales, reflecting tentative purchases of previously owned homes, fell 2.4% in August to a reading of 108.5, the National Association of Realtors said Thursday. Economists surveyed by The Wall Street Journal expected sales to be flat in August.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.