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Pending Home Sales Index Shows Some Strength
The Pending Home Sales Index posted 101.4 in March, a four percent gain from the month prior and the index’s highest reading since April 2010, when the home buyer tax credit expired.
A “pending home” is a home under contract to sell, but not yet closed. The Pending Home Sales Index is tracked and published by the National Association of REALTORS® every month. Continue reading
Posted in Economy & Markets
Tagged Existing Home Sales, NAR, Pending Home Sales Index
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NAR: Existing Home Sales Up 9% From This Time Last Year
Despite sparse home inventory, the National Association of REALTORS reports that 4.59 million “existing homes” were sold in February on a seasonally-adjusted, annualized basis.
There are now just 2.43 million homes for sale nationwide — a 19% reduction versus a year ago. According to the NAR, existing homes are selling at a pace that would liquidate the inventory in 6.4 months. Many analysts consider a 6-month supply indicative of a market in balance. Continue reading
NAR Releases Revised Existing Home Sales, Reports 14% Worse Sales Than Previously Thought
The National Association of Realtors, or NAR, has released it’s revised existing home sales numbers for 2007 to 2011. Continue reading
