Posted To: MND NewsWire
Pending home sales were unable to sustain the slight upward tick experienced in July and resumed their downward trend in August, declining by 2.4 percent. It was the third time in four months that pending sales have failed to exceed the previous month's numbers. The National Association of Realtors said its Pending Home Sales Index (PHSI), a forward-looking indicator based on home purchase contracts signed, was 108.5 in August compared to 111.2 in July and at the lowest level since a reading of 105.4 in January 2016. August's pending sales were also slightly (0.2 percent) lower than in August 2015. The PHSI had been reported to have a gain of 1.3 percent in July but that was revised down to 1.2 percent with today's report. Lawrence Yun, again blamed the tight supply of available homes for ...(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/2dnre2b
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