NAR Reports pending home sales increasing July
Posted on September 7th, 2009 in Housing Market
Pending Home sales data was released earlier this month and some more interesting and exciting news for the market. The National Association of Realtors released that pending home sales climbed to 3.2% in July which is double what economist predicted.
Some more interesting news is on a year to year basis, the pending sales index was up to 12.1% to a number of 97.6 from 87.1. This number is the highest since June 2007!
We continue to see improvements all over the board as the south increased in sales to 3.1%, the West 12.1% but dropped 2% in the Midwest as well as in the Northeast dropping to 3%. It is truly still unpredictable at this point to where the market will end up but the expiration of home buyer tax credit may slow down these numbers and ultimately stable out.
Until my next post,
Dwaine
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