Contracts Flicker in June, but Pending Sales Still Underwhelm Year-Over-Year

With an 0.9 percent gain month-over-month, June pending sales slightly sparked, according to the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI)—but, on an annual basis, contracts still underwhelmed, down 2.5 percent.
From May to June, activity increased in all of the regions in the U.S.: 0.5 percent in the Midwest; 1.4 percent in the Northeast; 1.1 percent in the South; and 0.7 percent in the West. However—in line with the nation’s overall trend&mda