Wednesday, July 9, 2008

Pending Home Sales Dipped 14% in May

The National Association of Realtors Index of Pending Home Sales slipped to 84.7 (100 = 2001) in May, down 14.0% from the same month last year.
NAR says existing-home sales are expected to total 5.31 million in 2008, and then increase 5.0% in 2009 to 5.58 million. There were just over 5.65 million existing homes sold in 2007. (and to put that in persepctive, in 2005 there were almost 7.08 million sold).

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