srikanth-topic.blogspot.com
point rise in pending sales for previously owned homes in April. The ’ indecx for pending sales (contracts signed but not of previously owned homes increased for a thir d month ina row, rising 6.7 percentag points in April to 90.3, from 84.6 in the industry group reports today. the index was 3.2 percentage points above the levelof 87.5 in Aprilo 2008. Analysts had projected a 0.5 point The biggest increase in April was in the where pending salesjumped 32.6 percentage points from the previousz month. The association's pending home sales index is a forwardlooking gauge, and the grou cautions that it is more volatile than actualo closed sales.
“The relationship between contracts on pending home saless and closings on existing home sales is takinbg longer than in the past forseveral reasons,” says the association's chief economist Lawrence Yun. “Mortgagw processing time has increased. It is takiny many months to close on those homes requirinh short sales with lender and some sales are falling through at thelast Still, Yun says he believes the housinyg market has already bottomec out in some The group last week reported closed salesw of existing homes rose 2.
9 percentage points in The association's housing affordability index also was at its second-highesf level on record in
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment