Pending home sales are on the rise, according to the National Association of Realtors, which released its Pending Home Sales Index today for the month of August. The index climbed to 82.3, up 4.3 percent from July. But, despite this monthly improvement, August’s level still sat 20.1 percent below the same month a year earlier, showing that the market is far below historic levels, according to Lawrence Yun, chief economist with NAR. “The pace of a home sales recovery still depends more on job creation and an accompanying rise in consumer confidence,” Yun said. TRD
Home sales climb in August, but still hover below last year
October 04, 2010 04:30PM
