Demand for Homes Drops to (Near) Record Low as Inventory Rises. Now Come the “Stabilizing Home Prices”: NAR

We here in our little corner don’t normally more than glance at the “pending home sales” data by the National Association of Realtors. It’s a forward-looking indicator of “closed home sales” based on contract signings – on deals that haven’t closed yet and could still fall apart. But today’s release of pending sales was interesting...