News & Information: Real Estate News

National pendings hit 15th consecutive increase

Tuesday, September 4, 2012  
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Pending home sales rose in July to the highest level in more than two years and remain well above year-ago levels, according to the National Association of REALTORS®.

The July Pending Home Sales Index is 2.4 percent above June 2012 and is 12.4 percent above July 2011.

Lawrence Yun , NAR chief economist, said the index is at the highest level since April 2010, which was shortly before the closing deadline for the home buyer tax credit. "While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity," Yun says.

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