Morning Minute: U.S. Pending Home Sales Move Higher in July

Pending home sales in July rose 7.4 percent higher compared to last year and were marginally higher — up 0.5 percent — compared to last month, according to the latest Pending Home Sales Index from the National Association of REALTORS®. Watch a short video on pending sales trends with NAR Chief Economist Lawrence Yun.

Other stories making the news:

In the Bloomberg article, “Donald Trump Wants to Raise His Own Taxes, But Would He Kill the 1031 Real Estate Break?,” Daniel L. Goodwin, Chairman and CEO of The Inland Real Estate Group, Inc., advocates for protecting the 1031 “like-kind” exchange.

“Our tax code is clearly in need of an overhaul, but it should not come at the expense of provisions that fuel economic growth on Main Street,” Goodwin told Bloomberg in a statement. “A 1031 exchange, for example, enables a business or investor to defer—not dodge—the capital gains tax on an asset sale.”

Infographic: NAR’S Latest Existing Home Sales Report – KCM blog

Here come the 75 million homebuying Millennials – HousingWire

C.A.R. Donates to Boys & Girls Club as Part of New NAR Initiative – Chicago Association of REALTORS®

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