July’s decline in pending home sales proves the nation needs more housing inventory

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  • July’s decline in pending home sales proves the nation needs more housing inventory
    July’s decline in pending home sales proves the nation needs more housing inventory

    The nation’s lack of housing inventory lead to a decrease in pending home sales, pushing the index backward 2.5% in July, according to the latest report from the National Association of Realtors. NAR's Chief Economist Lawrence Yun said although economic uncertainty is holding back some potential demand, what is desperately needed is more supply of moderately priced homes.

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