In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Wednesday, May 07, 2008

Pending Home Sales Index Declines

by Calculated Risk on 5/07/2008 10:31:00 AM

From the NAR: Soft Existing-Home Sales Expected Near-Term But to Rise Midsummer

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, edged down 1.0 percent to 83.0 from a downwardly revised level of 83.8 in February, and was 20.1 percent lower than the March 2007 index of 103.9.
Existing home sales will probably decline all year - the opposite of the NAR forecast.