PENDING HOME SALES INDEX INCREASES 5.3 PERCENT IN JUNE

Date August 19, 2008

The Pending Home Sales Index, based on contracts signed in June, increased 5.3 percent in June to 89.0 from 84.5 in May, according to the latest report from NAR.
According to NAR, approximately 2.5 million first-time home buyers are expected to take advantage of the temporary tax credit, which economists predict will increase existing home sales [...]