Pending Home Resales rise 5.3%
August 7, 2008
Does a number like this predict that the market has bottomed out? Not necessarily, but it is a great sign that lower prices are driving sales. Pending sales is the most important indicator to monitor; due to the fact that it tracks contracts that are being signed accepted and are moving towards closing. July numbers are due on August 25th. Only time will tell if sales continue to increase. Stay tuned.
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