US pending home sales fell again in April

A single family home is shown with a sale pending in Encinitas, California May 22, 2013. Home resales rose in April to the highest level in nearly 3-1/2 years and prices surged, offering the a buffer from the stiff headwinds posed by belt-tightening by Washington. REUTERS/Mike Blake

WASHINGTON (AP) -- Americans retreated from signing contracts to buy homes in April for the second straight month, a possible sign that a declining number of homes on the market are stifling sales during the traditional spring buying season.

The National Association of Realtors says that its pending home sales index fell 1.3 percent in April to 109.8, after slipping 0.9 percent in March to 111.3.

Potential buyers are crowding open houses in many neighborhoods because there are fewer sales listings. The number of properties for sales has plunged 9 percent over the past year to 1.93 million, according to the Realtors

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

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

(0) entries

Sign the guestbook.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.