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Pending home sales shrunk 2.7% in May from the previous month, according to the National Association of Realtors®. Three U.S. regions posted monthly losses, while sales in the Northeast surged. All four regions saw year-over-year declines in transactions.

“Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” said NAR Chief Economist Lawrence Yun, “The lack of housing inventory continues to prevent housing demand from being fully realized.”

The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – dropped 2.7% to 76.5 in May. Year over year, pending transactions fell by 22.2%. An index of 100 is equal to the level of contract activity in 2001.

“It is encouraging that homebuilders have ramped up production, but the supply from new construction takes time and remains insufficient,” added Yun. “There should be more focus on boosting existing-home inventory with temporary tax incentive measures.”

Pending Home Sales Regional Breakdown

The Northeast PHSI climbed 12.9% from last month to 66.7, a decrease of 21.9% from May 2022. The Midwest index dropped 5.3% to 74.4 in May, down 23.5% from one year ago.

The South PHSI decreased 4.4% to 94.4 in May, reducing 19.6% from the prior year. The West index lessened 6.1% in May to 58.4, falling 26.6% from May 2022.

About the National Association of Realtors®

The National Association of Realtors® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.

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*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: Existing-Home Sales for June will be reported on July 20. The next Pending Home Sales Index will be on July 27. All release times are 10 a.m. Eastern. View the NAR Statistical News Release Schedule.

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Have you ever had your confidence go MIA?  

Maybe it was the jitters before a big social event, like a class reunion, or a critical meeting. Perhaps you were meeting someone for the first time or stepping out of your comfort zone in some way…

And even though you are a grown adult who has been in hundreds of situations where you had to be your best self, sometimes your illusive self-assuredness goes AWOL!

What’s the deal?

I recently addressed an exceptional group of about 200 teens and their private comments had a common denominator:  they thought they weren’t good enough, they thought they might be rejected, they feared they would not be accepted, they worried that they looked weird, or would seem awkward.

One said, “I want to have charisma.”

Hmmm. Charisma?  

Sound familiar?

Merriam-Webster defines the meaning of a charismatic person being: 

“A person who possesses special traits that attract, inspire, or fascinate other people: a person possessing charisma.” 

Traits that describe great charismatics are those individuals who turn heads and dominate a room.

Even as accomplished adults, dealing with a situation where we have to meet new people, or be in a position where we feel exposed to others who we think are more accomplished (more powerful, more attractive, smarter, and the list goes on) can make even the most confident person feel insecure

For this younger generation, “fitting in” isn’t just a requirement but appears to be monumentally critical to their self-esteem.

All of us, regardless of age, face that “less than” wave of insecurity when we feel inferior. But as I coached these beautiful kids, I had to share the reality that not everyone will like them or think they are attractive, because everybody likes something different. 

The issue comes down to  where can you get authentic, positive reinforcement?

Here’s a hint:  It’s an inside job…

Telling a person they are beautiful, wonderful, fun, smart, etc. may not hit home because they can’t hear you as they run their own “story” in their head. Somewhere along the line they were told something different, and although it might have been accurate at that time, they allow a careless comment to define them, which shows up in a lack of confidence and an endless game of second guessing. 

Women are relentlessly critical of themselves. If you aren’t convinced, note that 9 BILLION dollars was spent last year alone on all things enhancing:  personal trainers, cosmetics, hair, Botox, fillers, mani’s, pedi’s, and yes, even surgical enhancements.  Despite all of that, women still generally have flimsy self-confidence.

So how can we break this cycle?

It’s important to remember that a comment from another person may have an unintended impact.  When you are told by a respected adult or professional that you are “less than, too big, too small, unattractive according to their ideals, this should not crash our self-value or self-esteem, as it is simply an opinion. But it is all too easy to internalize a dialogue that really has nothing to do with us!

Why do we continue to give our power away?

Therapy and mentoring can help, but the real shift has to happen in our minds. When that ugly internal chatter starts to point out our negative traits or shortcomings, we need to interrupt that story, and put it where it belongs...in the garbage!

One of the most effective affirmations shared with me was: “Thank you, but that thought doesn’t serve me anymore.”

If you were fat then and not now, that thought doesn’t serve you anymore.

If you were rejected by a loser, acknowledge that, and change the story with a positive message that it was a great lesson learned, and moving forward you now know more of what you want in a partnership.

Think about it.

The perceptions of another human are just that….human! Furthermore, those perceptions are from their personal perspective and are frequently  biased and inaccurate based on their “filters” and the internal messages they have.

Being told you are “profoundly unattractive” sounds brutal, but if the comment is made by someone who thinks goth is beautiful and that’s not your style, consider the source.  

People who love us (like parents and family members) may believe they are giving you good feedback on everything from your looks, ability to find a partner, getting hired at your dream job and so on, but that input frequently feels hurtful, and it’s easy to feel rejected and lose self-confidence as a result. Again, you have to understand that those comments are simply another person’s opinion and may not be YOUR truth at all. Other comments are intended to be hurtful.   When that happens, go back to your own core values that you believe about yourself and thank them for their perspective and move on.

Confidence is a lot like a thermostat.  Make sure yours stays on high and your charisma will shine ?.   More info: www.WomensWisdomNetwork.com

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