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Pending Home Sales Decline in August but Remain Above a Year Ago

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WASHINGTON (September 29, 2011) – Pending home sales slipped in August with a mixed regional performance but are higher than a year ago, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 1.2 percent to 88.6 in August from 89.7 in July but is 7.7 percent above August 2010 when it stood at 82.3. The data reflects contracts but not closings.

Lawrence Yun, NAR chief economist, said the decline reflects an… Read More

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