Tuesday, August 4, 2009

Pending home sales power ahead

If there is any doubt that the home market has begun to recover, one only has to look at the Pending Home Sales Index.  The forward-looking indicator of existing home sales is up for the the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors.

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Details are available at Examiner.com.

A quick side note, the chart above dramatically underscores how the credit crisis last fall ended what had appeared to be the beginnings of a recovery in home sales.

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