Pending Home Sales Up 8th Straight Month
November 2, 2009 by admin
Filed under Home Resales
Resale homes rose for the 8th straight month in September and was up 21.2 % compared to the same month last year.
The National Association of Realtors (NAR) reports that their index rose 6.1 percent from August to September, reaching 110.1.
the way the score works is that a score of 100 is equal to the average level of sales contract activity in 2001, which was the first year to be examined for the index.
- 2008 was 87.1
- 2007 it was 96.3
- 2006 it was 111.9.
The index is based on a large national sample of home-sale contracts signed during the month of September, and this sample typically represents about 20 percent of all resale transactions, according to NAR.
