Pending home sales increased in March despite mortgage rates and gas prices soaring

Business

In a positive sign for the housing market, pending home sales increased in March on a monthly basis even though mortgage rates climbed and gas prices soared as a result of the Iran war. Contract signings rose 1.5% from February but were down 1.1% year over year, according to the  National Association of Realtors (NAR)   Pending Home Sales report . NAR Chief Economist Lawrence Yun pointed out that the pending sales edged up despite higher mortgage rates, reflecting pent-up housing demand. “A

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