Pending Home Sales Drop For Second Straight Month
By Kevin Lanham, Chicagoland FHA Expert
(Pacor Mortgage Corp)
After a strong run to close out 2010, the market for home resales softened a bit in January. On a seasonally-adjusted basis, the Pending Home Sales Index dropped 3 percent last month, and December's figures were revised downward for a loss, too, according to the National Association of REALTORS®. A "pending home sale" is defined as a home under contract to sell, but not yet closed. The forward-looking index is now at a 3-month low on a national level, but still well ahead of its rolling 6-month average. Unfortunately, national data isn't overly helpful for buyers and sellers of real estate. The National Association of REALTORS® knows this, of course, and makes an effort to get more granular, supplementing the Pending Home Sales Index report with a region-by-region breakdown. Between D...
Comments
0