The National Association of Realtors announced this week that pending home sales rose 7.4 percent from July to August, an unexpected piece of positive news for the battered U.S. housing market. NAR said Wednesday its seasonally adjusted index of pending sales for existing homes rose to 93.4 from an upwardly revised July reading of 87. The reading was the highest since June 2007.
Although it is not entirely clear how the financial problems facing the U.S. and world will affect the housing market, the index of pending sales which bottomed out in March of this year, has been steadily increasing. Since prices have not started back up it would seem that we are thinning the inventory, which if the sales trends continue upward, should cause prices to stabalize.
Showing posts with label sales. Show all posts
Showing posts with label sales. Show all posts
Wednesday, October 8, 2008
Wednesday, June 11, 2008
Home Sales-News
Its a good idea to have a sense of market trends when making decsions to buy or sell a home. The National Association of Realtors ® has recently published an update on the housing market which indicates a modest rise in pending home sales contracts for April (compared to March) and forecasts a broader upturn in the second half of 2008.
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