Today, the National Association of Realtors (NAR) released their Pending Home Sales Report for March showing an notable decline in sales activity with the Seasonally Adjusted National index falling 0.8% from February but remaining 0.8% above the level seen in March 2016.

The following chart shows the seasonally adjusted national pending home sales index along with the percent change on a year-over-year basis as well as the percent change from the peak set in 2005 (click for larger version).