Posted To: MND NewsWire
Pending home sales eked out, although only barely, an increase in June after a falling by an unexpectedly large percentage in May. The National Association of Realtors® said its Pending Home Sales Index (PHSI) ticked up 0.2 percent to 111.0 compared to110.8 in May. The May decline of 3.7 percent had ended a three month winning streak, also bringing the index below its level a year earlier. NAR said that affordability constraints prevented a bigger boost from the near all-time low interest rates that lingered through most of the month. The June increase returned the index to positive year-over-year levels, putting it 1.0 percent higher than the index in June of last year . With last month's minor improvement, the index is now at its second highest reading over the past 12 months, but is...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2axnaJM
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