Pending home sales up seven months in a row

The National Association of REALTORS® (NAR) reported today pending home sales have increased for seven straight months. According to NAR, the Pending Home Sales Index (based on contracts signed in August) “rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.”

NAR economist Lawrence Yun says the rise in pending home sales shows buyers returning to the market  but deals are not always closing due to delays from short sales and the new appraisal rules.

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About Ann Londrigan

Ann Londrigan is Director of Association Outreach and Marketing for the Illinois Association of REALTORS®. She is responsible for increasing member engagement in and awareness for IAR Governmental Affairs and the RVOICE program as well as increasing participation in the REALTORS® Political Action Committee. She is responsible for overall marketing plans for IAR member benefits, educational products and events and is the content manager for IAR's Facebook page and LinkedIn discussion group. She manages the IAR Welcome Center, serves as staff liaison to the University of Illinois Regional Economics Applications Laboratory, and coordinates the IAR housing stats program.

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