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After posting two strong consecutive months, pending home sales fell in July according to information released Monday by the National Association of Realtors® (NAR). The Pending Home Sales Index (PHDI), a forward-looking indicator of housing market health, registered 89.7 in July, down 1.3 percent...
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Mortgage rates held steady near aggressive levels yesterday. While we had more than one scheduled economic release to digest, trading in the bond market was slow as several overseas markets were out on holiday. Over the past week mortgage rates have slowly improved thanks to market participants allocating...
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An index looking at pending home sales in the U.S. picked up its pace of decline in November, the National Association of Realtors reported on Tuesday. U.S. pending home sales fell more than expected with a 4.0% decline in November. The index now stands at 82.3, down from an downwardly revised 85.7 reading...
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Pending home sales are expected to have declined in September compared to the previous release. September and October have been critical times in the 14-month credit crisis, and it's unclear whether the index will capture the impact of the turmoil. The index, released by the National Association...
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Pending home sales unexpectedly soared by 7.4% in August , according to the National Association of Realtors (NAR) on Wednesday. The advance is the largest monthly gain in almost seven years, and follows a 2.7% decline in July and a 5.8% rebound in June. The consensus was expecting a 1.3% decline in...
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Economists say the March report for pending home sales confirms what has been known for many months now: the U.S. housing market is still several months away from stabilizing. U.S. pending home sales fell in line with expectations on Wednesday morning, declining 1.0% month-over-month to confirm the consensus...
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U.S. pending home sales surprised to the downside on Tuesday morning, declining 1.9% month-over-month despite calls for a 1.0% pullback in February, and failing to give any indications of a timeframe for a bottoming out in the housing market. "The idea that U.S. home sales are in the process of stabilizing...
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Despite an unchanged reading in U.S. pending home sales in January, the consensus forecast is looking for a 1.0% month-over-month decline in the National Association of Realtors' February release on Tuesday. However, economists are far from unanimous in their calls. "Several forces appear to be moving...
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The National Association of Realtors ( NAR ) on Tuesday released preliminary figures on sales contracts that were pending at the end of August and the information, once again, gave lie to any thought that the housing market is close to hitting bottom. The Pending Home Sales Index (PHSI) applies only...
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We don't usually cover the monthly report on pending home sales issued by the National Association of Realtors® (NAR), concentrating instead on NAR and the Census Bureau's other reports on housing permits and starts and the completed sales of new and of existing homes. However, with good news in...