Pending Home Sales Index levels out in May
Here are some highlights of an article about pending home sales:
WASHINGTON -- July 7, 2006 -- The index of pending home sales, a leading gauge for the housing sector, rose slightly in May -- an indication that the market is stabilizing, according to the National Association of Realtors®.
“The slight change in pending home sales indicates the market is beginning to level out,” says David Lereah, NAR’s chief economist. “This is consistent with our forecast, which is showing a soft landing for the housing sector. We are entering the second phase of the transition period from the housing boom, in which sellers are becoming more realistic about their expectations -- sales are stabilizing and annual home price appreciation is returning to historic norms.”
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WASHINGTON -- July 7, 2006 -- The index of pending home sales, a leading gauge for the housing sector, rose slightly in May -- an indication that the market is stabilizing, according to the National Association of Realtors®.
“The slight change in pending home sales indicates the market is beginning to level out,” says David Lereah, NAR’s chief economist. “This is consistent with our forecast, which is showing a soft landing for the housing sector. We are entering the second phase of the transition period from the housing boom, in which sellers are becoming more realistic about their expectations -- sales are stabilizing and annual home price appreciation is returning to historic norms.”
Read this article
posted by Marc Rasmussen at
4:20 PM
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