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Pending U.S. home sales

Pending home sales up 10.4 percent

Fri, 12/03/2010 - 08:52 by harsheeb

Washington -- Pending U.S. home sales jumped 10.4 percent in October, the National Association of Realtors said Thursday.

The Pending Home Sales Index, which predicts home closings one and two months down the road, rose to 89.3 after falling 1.8 percent to 80.9 in September, NAR said.

The index remains 20.5 percent below October 2009, but the double-digit increase was "welcoming," NAR Chief Economist Lawrence Yun said.

"The housing market clearly is in a recovery phase and will be uneven at times, but the improving job market and consequential boost to household formation will help the recovery process going into 2011," he said in a statement.

Pending home sales rose in August

Tue, 10/05/2010 - 06:57 by harsheeb

Washington -- Pending U.S. home sales rose modestly in August for the second consecutive month, the National Association of Realtors said Monday.

The Pending Home Sales Index, which predicts home closings one and two months down the road, rose 4.3 percent to 82.3, NAR said.

The index remains 20.1 percent below the August 2009 reading of 103 despite "attractive affordability conditions," said NAR Chief Economist Lawrence Yun in a statement.

However, while affordability factors are favorable, "The pace of home sales recovery still depends on more job creation and an accompanying rise in consumer confidence," he said.

Home sale applications down in June

Tue, 08/03/2010 - 23:06 by harsheeb

Washington-- Pending U.S. home sales fell in June, due to the the cessation of a federal homebuyer tax credit, the National Association of Realtors said Tuesday.

A 2.6 percent drop in the Pending Home Sales Index was anticipated by the trade group, but the census prediction among economists was for 1.2 percent growth.

The $8,000 first-time homebuyer tax credit required an application by the end of April and a home closing by the end of June.

At 75.7, the PHSI, which predicts home purchasing contracts a month or two in the future, is 18.6 percent below June 2009, NAR said.

Pending home sales on record streak

Wed, 12/02/2009 - 02:27 by harsheeb

Washington -- Pending U.S. home sales rose for the ninth consecutive month in October, the National Association of Realtors said Tuesday.

The nine-month streak is the longest upward trend since the data was first compiled in 2001, an indication of the depth of the slump that preceded it, NAR Chief Economist Lawrence Yun said in a statement.

"Keep in mind that housing had been under-performing for most of the past year," he said.

The Pending Home Sales Index, based on contracts signed in the month, rose 3.7 percent from 110 to 114.1, NAR said.

The index leaped 19.9 percent in the Northeast to 44.2 percent above October 2008. In the Midwest, the index rose 11.6 percent, 36.6 percent above a year ago.