Pending Home Sales Indicates That The Housing Recovery Is Progressing
The National Association of REALTORS reported Wednesday that pending sales of existing homes fell by 1.30 percent in July. According to the organization's Pending Home Sales Index, this was the second straight month that pending home sales dropped. July's Pending Home Sales Index reading was 109.50. Signed Purchase Contracts For Existing Homes Tracked In The U.S. ·Northeast: - 6.60 percent ·Midwest: - 1.00 percent ·West: - 4.90 percent ·South: + 2.60 percent Pending home sales were 6.70 percent higher year-over-year on a national basis. This indicates that the housing recovery is progressing, but at…