Charts from Today’s Pending Home Sales Release

After reaching the highest level in over six years, pending home sales declined in June, with rising mortgage interest rates beginning to impact the market.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, edged down 0.4 percent to 110.9 in June from a downwardly revised 111.3 in May, but is 10.9 percent higher than June 2012 when it was 100.0; the data reflect contracts but not closings.

Based on year-to-date sales activity, and stable contract signings expected for the balance of the year, NAR projects existing-home sales to rise more than 8 percent in 2013. Inventory shortages will lead the median price to rise by nearly 11 percent this year.

T.J. Doyle, Director of Research Marketing and Communications

Thomas “T.J.” Doyle is the Director of Social Media for NAR’s Communications Division. T.J. Doyle oversees NAR’s social media content, campaigns, and initiatives aimed at building and promoting online communities of value to NAR and its members. In his role, he advises and provides guidance to other NAR departments as how to best capitalize on opportunities for enhanced engagement on issues of interest to NAR and its membership. T.J. monitors and tracks NAR’s social media engagement efforts through a variety of software and programs, providing monthly reports to senior management team regarding engagement trends and relevant online conversations and actions taking place on blogs and other social media sites. Through this analysis of digital analytics the association’s social presence can evolves to best serve membership. T.J. has been at NAR for 10 years, previously serving as the Director of Marketing and Communications for the Research Division. In that role, he focused on marketing the products and services the Research Division produces to members and non-members alike, while also overseeing the Research Division’s social media presence, promoting NAR Research to members, state and local associations, the media, Congressional staffers, and other real estate-related industry groups. T.J. is a proud graduate of the College of William and Mary in Williamsburg, VA, and is currently pursuing a Masters from Georgetown University in Public Relations and Corporate Communications.

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  1. BIG KUDOS to Mr. Yun… He finally gets it…. Housing inflation is impacted demand… What I exactly sent to him on May 7, 2013… that it isn’t the lower inventory he should worry about it’s when mortgage rates rise you have H inflation on both fronts and with a low paying job economic cycle recovery…. Well we can all to the DTI math… for the sake of mankind please update that NAR affordability index it’s not valid in this economic cycle with low down payment loans and ( 25 DTI Metric)