Posted on August 7, 2017 - 08:30 PM
by Bob McCormick
INFO THAT HITS US WHERE WE LIVE... The National Association of Realtors (NAR) Pending Home Sales Index is a measure of contracts signed on existing homes. It's a forward-looking indicator of where sales may be a few months out when those contracts go to closing. Monday we got the good news that Pending Home Sales in June were 1.5% ahead of May's upwardly revised reading. This reverses a three month decline, and the NAR now predicts existing home sales will end the year at about 5.56 million, up 2.6% from 2016's 5.45 million. The median existing home price is forecast to end the year up 5%, just below 2016's 5.1% gain
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