PENDING HOME SALES UNCHANGED IN JANUARY

March 16, 2008

The January Pending Home Sales Index remained unchanged from December, holding at 85.9, but remained 19.6 percent below the January 2007 reading of 106.8, according to NAR’s latest report.

"This additional sign of a stabilizing market is encouraging, and our members are telling us there’s been a pickup in shopping activity," said Lawrence Yun, NAR chief economist. "Our hope is that the increased traffic of buyers looking at homes will translate soon into more contract offers."

Posted in Real Estate