Pending US home sales improved slightly in June

By Josh Boak, The Associated Press

WASHINGTON – The number of Americans who signed contracts to buy homes crept up in June, a possible indication that the recent growth in real estate sales is still on track.

The National Association of Realtors says its seasonally adjusted pending home sales index rose 0.2 per cent last month to 111, regaining some ground after a dip in May. The index of upcoming sales improved 1 per cent from a year ago, as buyer demand remains strong despite fewer properties being listed for sale.

Pending sales contracts are a barometer of future purchases. A sale is typically completed a month or two after a contract is signed

Completed sales of existing homes rose 1.1 per cent in June to a seasonally adjusted annual rate of 5.57 million, the Realtors reported last week.

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