WASHINGTON (August 1, 2006) – Pending home sales – a leading indicator for the housing sector – have risen for the last two months, according to the National Association of Realtors®.
David Lereah, NAR’s chief economist, said the small rise in the index is good news, indicating that the trend is stabilizing. “Once again, we have various housing indicators moving in different directions, which itself is an indicator of a market in transition,” he said. “The housing market is striving for balance – a process that will take several months. A quieting in the movement of indicators should restore confidence to home buyers who’ve been on the sidelines, waiting for the right time to get into the market, and now is the best time we’ve seen since the 1990s in terms of housing choices and flexible terms.” read more…
from the National Assoc. of Realtors
