July Pending Home Sales Rise. GREAT (XHB)
(Orginally posted @Economicburn)
Not really but you gotta start somewhere..The Chicago condo market is still a joke with thousands to choose from for 300k the size of cracker boxes. As you can see the market has become soft after the tax credits expired in April.
(Reuters writes) The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in July, increased 5.2 percent to 79.4 from June. June contracts were revised to show a slightly bigger 2.8 percent decline instead of the previously reported 2.6 percent fall.
“Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” said Lawrence Yun, NAR chief economist.