August 3, 2010; Pending Home Sales Down Nationwide, But Down Minimally In Evergreen And ConiferAccording to the National Association of Realtors, pending sales of previously owned homes fell 2.6 percent for June from May; after a 30 percent drop in May. Furthermore, the Pending Homes Sales Index is down 18.6 percent from June 2009. With this drop, pending home sales are at a 20 year low.
Breaking down the numbers, pending sales rose 3.7 percent in the South, dropped 12.2 percent in the Northeast, dropped 9.5 percent in the Midwest, but only dropped 0.2 percent in the West. A lot of this is a result of the expired tax credit, and was fairly well expected. Pending sales are only down minimally in Evergreen and Conifer, and in general it is expected that we will see sales start to pick up in September and October of this year.
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