Pending home sales, commercial defaults each rise at record rates

Miami /
Dec.December 02, 2009 10:18 AM

<object id=”msnbc18bbff” classid=”clsid:D27CDB6E-AE6D-11cf-96B8-444553540000″ codebase=”http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=10,0,0,0″ height=”245″ width=”420″><param name=”movie” value=”http://www.msnbc.msn.com/id/32545640″><param name=”FlashVars” value=”launch=34226036&amp;width=420&amp;height=245″><param name=”allowScriptAccess” value=”always”><param name=”allowFullScreen” value=”true”><param name=”wmode” value=”opaque”><embed name=”msnbc18bbff” src=”http://www.msnbc.msn.com/id/32545640″ flashvars=”launch=34226036&amp;width=420&amp;height=245″ allowscriptaccess=”always” allowfullscreen=”true” wmode=”opaque” type=”application/x-shockwave-flash” pluginspage=”http://www.adobe.com/shockwave/download/download.cgi?P1_Prod_Version=ShockwaveFlash” height=”245″ width=”420″></object><p style=”background: transparent none repeat scroll 0% 0%; font-size: 11px; font-family: Arial,Helvetica,sans-serif; color: rgb(153, 153, 153); margin-top: 5px; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: center; width: 420px;”><br><a href=”http://www.msnbc.msn.com/id/3032072″ style=”border-bottom: 1px dotted rgb(153, 153, 153) ! important; text-decoration: none ! important; font-weight: normal ! important; height: 13px; color: rgb(87, 153, 219) ! important;”></a></p>Pending home sales rose to 3.7 percent during the month of October, up 32 percent year-over-year, according to Real Estate Econometrics. That’s the highest annual increase ever recorded by the research firm, bringing its index to its highest level since March 2006. Lief Thomsen, founder and CEO of Mortgage Master, said that while the residential market appears to be steadily improving, the big question in the industry is what will happen in April when the homebuyer tax credit expires. Meanwhile, commercial mortgage defaults set records of their own. In that metric’s largest quarterly increase ever, commercial defaults doubled to 3.4 percent in the third quarter, <a href=”http://www.msnbc.msn.com/id/21134540/vp/34226036#34226036″>CNBC’</a>s Diana Olick reported.


Related Articles

arrow_forward_ios
Placeholder image
U.S. existing home prices up; climate improves as distressed sales wane: VIDEO
U.S. existing home prices up; climate improves as distressed sales wane: VIDEO
Placeholder image
More browsers coming back to real estate sites
More browsers coming back to real estate sites
Placeholder image
Best and worst places to buy a home
Best and worst places to buy a home
Placeholder image
Homebuyer tax credit: part II?
Homebuyer tax credit: part II?
Placeholder image
Homebuyer tax credit: part II?
Homebuyer tax credit: part II?
Placeholder image
Homebuyer tax credit: part II?
Homebuyer tax credit: part II?
Placeholder image
Obama’s HAMP celebrates first birthday
Obama’s HAMP celebrates first birthday
Placeholder image
Debt-forgiven commercial developers may face tax landmines
Debt-forgiven commercial developers may face tax landmines
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...