Pending home sales are up for the fifth consecutive month

Aug 04, 2009 press release by national association of realtors.

Walter Molony


Uptrend Continues in Pending Home Sales
Washington, August 04, 2009

Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.

The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.

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