Economic Buzz: US pending home sales down by 5.4% in June

Pending home sales in the United States saw a monthly decline of 5.4%, the National Association of Realtors (NAR) said in its report published on Thursday. Compared to the same month of the previous year, the figure decreased by just 0.3%.

Pending home sales in the Northeast region dropped by 3% on a monthly level, but increased by 2.2% on an annual one. Those in the Midwest sank by 8.9% month-on-month, but went up by 0.3% year-on-year. In the South, they dipped by 4.1% from May and 0.9% on a yearly basis. In the West, pending home sales slumped by 4.7% compared to the previous month and by 1.1% year-on-year.

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