Tempe single-family home sales posted a sizable increase in August, but a sharp drop in pending deals suggests the city’s housing market could be heading into a considerably slower fall, according to a major analyst.
Closed sales of single-family homes rose 23.6% from a year earlier, with 68 homes changing hands during the month, according to Phoenix Realtors.
But only 41 sales were pending last month – a 51.8% year-over-year decline and by far the largest change among the city’s major August housing indicators…