HOME SALES RISE
This from Fox Business News:
"Pending sales of existing U.S. homes unexpectedly jumped in August to the highest level in over a year, data from a real estate trade group showed on Wednesday. The National Association of Realtors Pending Home Sales Index, based on contracts signed in June, rose 7.4% in August to 93.4 from an upwardly revised index of 87.0 in July. The August reading was 8.8% higher than a year earlier, and the highest level since 101.4 in June 2007. Economists polled by Reuters ahead of the report were expecting pending home sales to drop by 1.8%.
The association's senior economist Lawrence Yun said home buyers responded to improved affordability, with home prices low and mortgage rates down after the government takeover of Fannie Mae and Freddie Mac."
At http://www.johncmartin.com/, we don't think anyone should fear buying a home right now. In fact, it is the best time to buy.....especially right here in East Texas.
"Pending sales of existing U.S. homes unexpectedly jumped in August to the highest level in over a year, data from a real estate trade group showed on Wednesday. The National Association of Realtors Pending Home Sales Index, based on contracts signed in June, rose 7.4% in August to 93.4 from an upwardly revised index of 87.0 in July. The August reading was 8.8% higher than a year earlier, and the highest level since 101.4 in June 2007. Economists polled by Reuters ahead of the report were expecting pending home sales to drop by 1.8%.
The association's senior economist Lawrence Yun said home buyers responded to improved affordability, with home prices low and mortgage rates down after the government takeover of Fannie Mae and Freddie Mac."
At http://www.johncmartin.com/, we don't think anyone should fear buying a home right now. In fact, it is the best time to buy.....especially right here in East Texas.
posted by John and Flo Martin at 11:10 AM
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