Pending Home Sales Up For 28th (!) Straight Month

NAR’s Pending Home Sales Index (which measures contracts, but not closings) was up 5.8 percent in August from the year before, marking 28 months of annual increases. (It was down from July, but that’s typical — sales taper off after summer.)

For whatever reason, NAR is playing the “glass half empty” card, focusing on the monthly changes. But as we’ve said before, in a cyclical business like real estate, those don’t matter nearly as much as year-to-year figures.

NAR also expects total existing-home sales to be up about 11 percent in 2013 compared to 2012.

http://varbuzz.com/2013-09/pending-home-sales-up-for-28th-straight-month/

About

Realtor with Greg Garrett Realty, actively licensed in the state of Virginia

Tagged with: , , , , , , , , , , , , , , , , , , ,
Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: