Pending Home Sales Rise...AGAIN!

PACIFIC PALISADES

SANTA MONICA

MALIBU

BRENTWOOD

BEVERLY HILLS

WESTWOOD/CENTURY CITY

MARINA DEL REY

VENICE

TOPANGA

CULVER CITY

PLAYA DEL REY

PLAYA VISTA

WEST L.A.

BEL-AIR

BEVERLY HILLS PO

BEVERLY CENTER/MIRACLE MILE

BEVERLYWOOD

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.