Pending Home Sales Down 1%
WASHINGTON, Sept. 1 /U.S. Newswire/ -- Pending home sales declined slightly but remain historically high, according to the National Association of Realtors(r).
The Pending Home Sales Index (see note), based on data collected for July, slipped 1.0 percent to a reading of 125.1, but is 3.5 percent higher than July 2004.
The index, a leading indicator for the housing sector, is based on pending sales of existing homes. A sale is pending when the contract has been signed but the transaction has not closed; pending home sales typically close within one or two months of signing.
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The Pending Home Sales Index (see note), based on data collected for July, slipped 1.0 percent to a reading of 125.1, but is 3.5 percent higher than July 2004.
The index, a leading indicator for the housing sector, is based on pending sales of existing homes. A sale is pending when the contract has been signed but the transaction has not closed; pending home sales typically close within one or two months of signing.
More...
posted by Little_Silvered at 7:09 PM
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