- Pending Home Sales for July fell 12.2% versus estimates of a 2.2% decline and a 5.0% increase in June.
BOTTOM LINE: The number of Americans signing contracts to buy previously owned homes fell in July, Bloomberg reported. Lawrence Yun, a senior economist with the Realtors’ group said there were signs the market had been “stabilizing somewhat” since mid August and that there were no serious problems for the majority of buyers who qualify for conventional financing. Pending resales fell 21% in the West, 13% in the Midwest, 12% in the Northeast and 6.6% in the South. I expect August to be somewhat better, but still lower. Pending resales should see a sharp bounce higher this month.
No comments:
Post a Comment