Positive News On Real Estate » Pending home sales rise for 9th month in a row http://www.positiveonrealestate.com Positive Real Estate News Thu, 09 Feb 2012 15:34:35 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Pending home sales rise for 9th month in a row http://www.positiveonrealestate.com/pr/541 http://www.positiveonrealestate.com/pr/541#comments Tue, 01 Dec 2009 18:25:36 +0000 admin http://www.positiveonrealestate.com/?p=541 The pending home sales index rose a seasonally adjusted 3.7% in October from September, the National Association of Realtors (NAR) reported. The index is up 31.8% compared with last October. The index rose 6% in September.

Lawrence Yun, the chief economist for NAR, said the increase in pending home sales wasn’t entirely due to the tax credit.

“Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually,” he said.

NAR projects 2010 existing homes sales to rise 10.8% to 5.7 million compared with 5.15 million in 2009. New-home sales are forcasted to rise 42% in 2010 to 561,000 from 394,000 in 2009. Home prices are expected to rise about 4%, according to Yun’s forecast

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