Pending home sales slipped again in April, as contract activity decreased for the sixth consecutive month, the National Association of Realtors reported.
Zonda, too, indicated a continued downward trajectory. Its New Home Pending Sales Index (PSI) for April 2022 showed pending sales rose month-over-month but remained down year-over-year.
The PSI came in at 150.4 for April, representing a 3.1% decrease from April 2021. The index is 13.6% below cycle highs.
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