Homes for Sale: Pending Homes for Sale Increase
Foreclosed homes for sale have also driven prices down across the U.S. Some real estate markets like California, Florida, Nevada and Arizona have seen sharp declines in home prices. The sharp drop in prices is bringing buyers back into the market looking for a home for sale at barging prices.
The National Association of Realtors reported their Pending Home Sales Index increased 0.1 percent in May. The increase wasn't much but the last time there were four straight months of gains was back in October 2004.
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Here is an interview of the NAR's chief economist Lawrence Yun about pending home sales.