The National Association of Realtors reported The Pending Home Sale Index rose 5.3% for the month of June to a reading of 89.0. The index is a forward looking indicator based on contracts signed during the month. While still lagging 12.3% behind last June number of 101.4, it is the highest reading for the index since October of '07, of 89.8. According to Lawrence Yun, NAR chief economist, “The rise in pending home sales was broad-based with all four regions showing gains. This is welcome news because a rise in contract activity is necessary for an overall housing recovery. With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009.”
Saturday, August 9, 2008
Pending Home Sales Up!
The National Association of Realtors reported The Pending Home Sale Index rose 5.3% for the month of June to a reading of 89.0. The index is a forward looking indicator based on contracts signed during the month. While still lagging 12.3% behind last June number of 101.4, it is the highest reading for the index since October of '07, of 89.8. According to Lawrence Yun, NAR chief economist, “The rise in pending home sales was broad-based with all four regions showing gains. This is welcome news because a rise in contract activity is necessary for an overall housing recovery. With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009.”
Subscribe to:
Post Comments (Atom)
Posts
.jpg)
No comments:
Post a Comment