March 2020 Pending Home Sales Crash Due To Coronavirus
Written by Steven Hansen
The National Association of Realtors (NAR) seasonally adjusted pending home sales index had a “temporary” slump this month [their words, not mine]. Our analysis shows the year-over-year rate of growth rate significantly declined. The quote of the day from this NAR release:
The data does not capture the significant fallout from the pandemic or the measures taken to control the outbreak …The usual Spring buying season will be missed, however, so a bounce-back later in the year will be insufficient to make up for the loss of sales in the second quarter.
Source: http://econintersect.com/pages/releases/release.php?post=202004291014
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