WASHINGTON – Aug. 7, 2008 – Some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently-passed housing stimulus bill, according to the latest forecast by the National Association of Realtors® (NAR).
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 5.3 percent to 89.0 from a downwardly revised reading of 84.5 in May, but remains 12.3 percent below June 2007 when it stood at 101.4.
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Senate Stimulus Bill, Treasury Stability Plan Good Start, Says NAR
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The National Association of Realtors® hailed the Senate for passing its
stimulus bill that expands the homebuyer tax credit, an important housing
component...
4 months ago
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