02 Aug 2007 06:48 am
June Numbers Indicate Home Sales Rise
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The National Association of Realtors‘ pending home sales index jumped 5 percent to 102.4 in June, the group announced Wednesday. Economists surveyed by Briefing.com had forecast the index would slip 0.6 percent after a revised 3.7 percent drop in the May report. It was the biggest increase in the index in three years. But that is up from a May reading that matches the second lowest on record. Only September 2001, the month of the terrorist attack, had a weaker pending home sales reading than May. However, major declines in home sales are likely to have occurred already and further declines, if any, are likely to be modest given the accumulating pent-up demand. |
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