Tuesday, December 06, 2005

Pending Real Estate Sales Drop

Pending Home Sales Index

According to the National Association of Realtors survey entitled "Pending Home Sales Index" the number of pending home sales in the northeast fell 6.9 percent from this time last year.

David Lereah, NAR's chief economist commented "The drop in pending home sales is an affirmation that we are experiencing a modest slowing in the housing sector" he went on to say "The index is pointing to a soft landing of home sales, which will help correct the inventory shortages that have dominated housing over the last five years."

I was not able to obtain Boston's pending home sales index but when I do I will post it on this blog.



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