Jump to content
House Price Crash Forum
Sign in to follow this  

Us Housing Market Bottoming Out?

Recommended Posts

WASHINGTON (Reuters) - Pending sales of previously owned U.S. homes rose at a faster-than-expected pace in June, advancing for the fifth straight month for the first time in six years, a real estate trade group said on Tuesday.

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in June, rose 3.6 percent to 94.6. May's index was revised upwards to 91.3 from 90.7, while the percentage increase was bumped up to 0.8 percent from 0.1 percent.

Analysts polled by Reuters had forecast pending home sales to rise 0.6 percent in June. Pending sales were up 6.7 percent in June compared to the same period last year.

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

Share this post

Link to post
Share on other sites

Bloomberg's take on the story


“It’s a modest recovery, however these numbers are exceeding people’s expectations,†said David Sloan, senior economist at 4Cast Inc. in New York, one of three forecasters who shared the highest projection in a Bloomberg News survey. Nonetheless, he said, while there are “genuine signs†of recovery in housing and manufacturing, “the consumer is still the big sort of worry.â€

Tend to agree with him.

Edited by VoteWithYourFeet

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   295 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.