Pending Home Sales at Lowest Level Since 2011. Should You Sell Your Income Properties ASAP?
The housing market is showing various signs of a cooldown. And that's something income property owners need to be aware of.
In June, signed contracts to purchase existing homes fell 20% on an annual basis, according to the National Association of Realtors (NAR). That represents the slowest sales pace since September of 2011, with the exception of the first two months of the COVID-19 outbreak (which, let's face it, we can't really count since much of the country was on lockdown at that point).
On a monthly basis, pending home sales fell 8.6%, compared to May. That's a far more substantial drop than housing-market experts were anticipating.
Source Fool.com
