Pending Home Sales Up in August
Pending Home Sales Up in August
Pending Home Sales Up in August
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October 4 2010 (Jeff Alan)

Signed contracts to buy homes were up 4.3% in August compared to July according to the National Association of Realtors (NAR), but still lagged remained below last years pace.

NAR said Monday that its seasonally adjusted index of sales agreements for previously occupied homes rose 4.3 percent to a reading of 82.3. Economists surveyed by Thomson Reuters had expected the index would rise to 81.4.

That’s still more than 20 percent below the pace in the same month a year earlier. The index provides an early measurement of sales activity because there is usually a one- to two-month lag between a sales contract and a completed deal. A reading of 100 indicates the average level of sales activity in 2001, when the index started.

The sales report was driven by a nearly 7 percent jump in the South, a 6 percent increase in the West and a 2 percent rise in the Midwest. Pending sales fell nearly 3 percent in the Northeast.

Sales had picked up in the spring when the government was offering some homebuyers tax credits of up to $8,000. Once the incentives expired April 30, sales plunged.

Market analysts believe that potential buyers are waiting to purchase homes because they are worried about jobs and the economy and some have been scared way believing that there is the possibility in further softening of home prices. It’s also believed that potential sellers are holding off putting their homes on the market for the same reasons.

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Helpful Tools
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Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

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15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
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October 4 2010 (Jeff Alan)

Signed contracts to buy homes were up 4.3% in August compared to July according to the National Association of Realtors (NAR), but still lagged remained below last years pace.

NAR said Monday that its seasonally adjusted index of sales agreements for previously occupied homes rose 4.3 percent to a reading of 82.3. Economists surveyed by Thomson Reuters had expected the index would rise to 81.4.

That’s still more than 20 percent below the pace in the same month a year earlier. The index provides an early measurement of sales activity because there is usually a one- to two-month lag between a sales contract and a completed deal. A reading of 100 indicates the average level of sales activity in 2001, when the index started.

The sales report was driven by a nearly 7 percent jump in the South, a 6 percent increase in the West and a 2 percent rise in the Midwest. Pending sales fell nearly 3 percent in the Northeast.

Sales had picked up in the spring when the government was offering some homebuyers tax credits of up to $8,000. Once the incentives expired April 30, sales plunged.

Market analysts believe that potential buyers are waiting to purchase homes because they are worried about jobs and the economy and some have been scared way believing that there is the possibility in further softening of home prices. It’s also believed that potential sellers are holding off putting their homes on the market for the same reasons.

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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October 4 2010 (Jeff Alan)

Signed contracts to buy homes were up 4.3% in August compared to July according to the National Association of Realtors (NAR), but still lagged remained below last years pace.

NAR said Monday that its seasonally adjusted index of sales agreements for previously occupied homes rose 4.3 percent to a reading of 82.3. Economists surveyed by Thomson Reuters had expected the index would rise to 81.4.

That’s still more than 20 percent below the pace in the same month a year earlier. The index provides an early measurement of sales activity because there is usually a one- to two-month lag between a sales contract and a completed deal. A reading of 100 indicates the average level of sales activity in 2001, when the index started.

The sales report was driven by a nearly 7 percent jump in the South, a 6 percent increase in the West and a 2 percent rise in the Midwest. Pending sales fell nearly 3 percent in the Northeast.

Sales had picked up in the spring when the government was offering some homebuyers tax credits of up to $8,000. Once the incentives expired April 30, sales plunged.

Market analysts believe that potential buyers are waiting to purchase homes because they are worried about jobs and the economy and some have been scared way believing that there is the possibility in further softening of home prices. It’s also believed that potential sellers are holding off putting their homes on the market for the same reasons.

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.