Portal for Worldwide Housing Information
Home » Business »

Real Estate

Pending Home Sales Index lowest since 2001

According to a recent report in the US, the Pending Home Sales Index dipped 4% to 82.3 for the month of November, which is the lowest in the last seven years since 2001. This is because of the number of homes under contract to be sold has declined by 4% during the period. While the Octobar index this year was 85.7, the November index last year remained 86.9. According to analysts, the fall in Pending Home Sales Index is due to a combiantion of factors, which may include economic recession, growing unemployment, declining consumer confidence and rigidity in mortgage standards. Pending Home Sales Index depends on sales contracts that are signed but the deals are not closed yet. It is normally one of two months after signing the contract when the sales are typically finalized.

Navigate Portals
©Copyright 2006-2010 - Navigate Portals. Contact Us
All Rights Reserved.