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With demand outpacing supply, experts call for new construction

Location
Seattle, Portland, San Francisco
Publish Date
2022/07/04

Pending home sales, which measure signed contracts on previously owned and existing properties, ↑ 0.7% MoM in May.Home sales were strongest in the Northeast, ↑ 15%. In the Midwest, they ↓ 1.7%, and also in the West, they ↓ 5%. Pending home sales were still ~14% lower YoY, as buyers have had to contend with rising mortgage rates in 2022.

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