September Home Sales
October 27, 2011 by staff
The National Association of Realtors (NAR) Pending Home Sales Index, based on contracts signed in September fell 4.6 percent to 84.5.
Economists polled by Reuters before the report had expected sales to edge up 0.1 percent instead of decline.
Lawrence Yun, NAR chief economist, said the index was above its level in September 2010 of 79.4, but said that the housing market was limited by several factors.
“A combination of consumer confidence and tight lending standards continue homebuyers retained, although the private sector added nearly two million new jobs in the last 12 months,” said Yun.
Pending home sales fell in September in all regions of the country from August levels.
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