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Pending Home Sales Rise...AGAIN!

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Pending Home Sales Rise....AGAIN!

Pending Home Sales rose to its highest level since June 2007. This was the fifth consecutive monthly increase and lifted pending home sales to 6.7% above its June 2008 level. Pending home sales measure contracts signed while existing home sales measures sales closed.

There were increases across the Country with a strong gain in the South, a moderate increase in the West, and modest advances in both the Northeast and Midwest.

In conclusion: Pending home sales increased in June for the fifth consecutive month, which suggests that a bottom has been reached in existing home sales and a modest recovery is underway.



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Posted Tuesday Aug 04