The housing market continues to show signs of rebounding as pending home sales increased 3.7% in October, the National Association of Realtors reported today. It was the ninth consecutive monthly increase.
The association's pending home sales index was 114.1, compared with 110.1 in September. October's index was 31.8% higher than that of September 2008.
National Association of Realtors Chief Economist Lawrence Yun said in a statement that "as inventories continue to decline and balance is gradually restored between buyers and sellers, we should reach self-sustaining housing conditions and firming home prices in most areas around the middle of 2010."
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
