Pending home sales rise in April
The National Association of Realtors today, June 2nd, reported its seasonally adjusted index of sales contracts signed in April surged 6.7 percent to 90.3. It was the biggest monthly jump since October 2001. The mortgage markets are starting to see pressure to raise interest rates mainly because of the massive Federal Goverment borrowing. Banks are in better financial shape and are reluctant to lower the price of their REO properties. You better hurry if you plan to take advantage of low interest rates and low house prices. Remember what I wrote on March 12th, 2009: “FSBO.com predicts the bottom in housing sales will be in the 4th quarter, 2009, as last minute buyers take advantage of the 1.tax credit expiring 12/31/09 2.low interest rates 3.depressed housing prices”
August 4th, 2009 at 9:11 am
FIVE STRAIGH MONTHS!!!
WASHINGTON (AP) — The National Association of Realtors says pending home sales rose in June for the fifth straight month, another encouraging sign of life for the embattled U.S. housing market.
The results were far better than analysts expected. Economists surveyed by Thomson Reuters expected the index to come in at 91.2.
The last time there were five consecutive monthly gains was in July 2003.