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Pending Home Sales Higher For Ninth Consecutive Month

Posted by John on December 1, 2009 · Leave a Comment 

Posted To: MND NewsWire

The National Association of Realtors this morning released October Pending Home Sales data Pending Home Sales, Housing Starts, and Building Permits are considered more forward looking/timely than other housing indicators like Existing Home Sales. NAR's headline says it all: Nine Consecutive Gains for Pending Home Sales From the NAR press release… The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2. Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing….(read more)

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