Pending Home Sales Slip, But Stay above last Year
February pending home sales flattened with limited buyer choices, but remained at the second highest level in nearly three years, according to the National Association of REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, slipped 0.4 percent to 104.8 in February from a downwardly revised 105.2 in January, but is 8.4 percent higher than February 2012 when it was 96.6. Contract activity has been above year-ago levels for the past 22 months; the data reflect contracts but not closings.
Before January, the last time the index showed a higher reading was in April 2010 when it was 110.9, shortly before the deadline for the home buyer tax credit. Read More...
No comments:
Post a Comment