Tuesday, November 14, 2006

Pending Home Sales Level Off

According to the National Assocation of Realtors:

Home sales are expected to hold fairly steady in the months ahead, according to the latest reading on pending home sales. The Pending Home Sales Index, based on contracts signed in September, slipped 1.1 percent to a level of 109.1, following a 4.7 percent gain in August. The September index was 13.6 percent down from a year earlier. David Lereah, NAR’s chief economist, said the index shows home sales will not be moving much in one direction or another.

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