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Pending home sales rebounded in August after falling in both June and July. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), based on contracts signed for the purchase of existing homes, rose 8.1 percent from the July level. This put the PHSI at 119.5, still down 8.3 percent from its 130.3 reading in August 2020. The surge was not one analysts had expected. Those polled by Econoday expected only an 0.9 percent improvement. Trading Economic's consensus was a 1.4 percent rise. "Rising inventory and moderating price conditions are bringing buyers back to the market," said Lawrence Yun, NAR's chief economist. "Affordability, however, remains challenging as home price gains are roughly three times wage growth." He added that such an imbalance in the market
Rob Chrisman
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Although most states don’t “fall back” and change the clocks until November 7th, losing 3-4 minutes of daylight a day is now readily apparent, and it’s that time of year again when Thriller ” starts appearing on radio pl... (read more)
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Housing News
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Pending home sales rebounded in August after falling in both June and July. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), based on contracts signed for the purchase of existing homes, rose 8.1 percent from ... (read more)
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Housing News
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Mortgage application volume edged slightly lower during the week ended September 24 , with purchase and finance applications sharing in the dip. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, decreas... (read more)
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