Pending Home Sales Stopped by Supply

In a bear-out of the country’s dire inventory shortage, pending home sales are struggling, in April dropping 1.3 percent, according to the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). In April, three of the major regions in the U.S. experienced lower sales, falling 3.2 percent in the Midwest, 1 percent in the South, and 0.4 percent in the West. There were no gains in the Northeast.“Pending sales slipped in April and continued to stay within the same na