Pending Home Sales Rise

Published: February 8, 2007

<table width="507"><tbody><tr><td class="itemheader"><span style="FONT-WEIGHT: 900; FONT-SIZE: 14px; MARGIN-BOTTOM: 3px; PADDING-BOTTOM: 3px; COLOR: #003399; PADDING-TOP: 3px; FONT-FAMILY: Arial, Helvetica, sans-serif"><b> </b></span></td></tr><!– Story –><tr><td class="blacktext" width="500">Pending home sales are up, affirming the stabilization that is occurring in home sales, NAR's Pending Home Sales Index shows. The index, based on contracts signed in December, rose 4.9 percent to an index of 112.4 from an upwardly revised level of 107.2 in November, but is 4.4 percent lower than December 2005. The monthly gain was the biggest increase since March 2004 when the index rose 6.9 percent. &quot;Some of the monthly gain may be weather related, but it appears buyers are becoming more comfortable, sensing the timing is good and that their local market has bottomed out,&quot; says NAR Chief Economist David Lereah. &quot;I expect modest sales gains throughout the year, with what I believe are sustainable levels of activity. 2007 promises to be the fourth best year on record.&quot; </td></tr></tbody></table>

Last modified: February 8, 2007 at 8:54 am | Originally published: February 8, 2007 at 8:54 am
Printed: September 30, 2020