The Latest Pending Home Sales Index and Forecast Release

Published by Bob Wert July 15th, 2008 in Advice.

Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during the second half of the year, according to the latest forecast. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, fell 4.7 percent to 84.7 from an upwardly revised reading of 88.9 in April, and remains 14.0 percent below May 2007 when it stood at 98.5.

Lawrence Yun, National Association of Realtors (NAR) chief economist, said some pullback after a sharp increase in the previous month was expected. “The overall decline in contract signings suggests we are not out of the woods by any means. The housing stimulus bill that is still being considered in the Senate is critical to assure a healthy recovery in the housing market, jobs and the economy,” he said.

0 Responses to “The Latest Pending Home Sales Index and Forecast Release”

Feed for this Entry

No Comments

Bob's Real Estate Blog

bob
Bob Wert, Associate / Broker
PA License Number: AB065732

Consumer Notice

Welcome to one of the most informative and helpful real estate blogs you'll find on online: Bob's Properties. With "property search" and many other real estate tools, I am confident that you will find it useful, informative, and potentially profitable in all your real estate transactions. If you have any questions, please feel free to give me a call or just drop me an e-mail. I am sure that I can guide you in the right direction and assist you in buying, selling and profiting in real estate. Thank you! ~ Bob

About Bob...