Pending Home Sales Falls To All Time Low
Source: http://feeds.feedburner.com/~r/StocksOptionsBlog/~3/504370997/Posted on Tuesday, January 6th, 2009 | In Stocks to Watch
Tuesday January 6, 2009
Navivest
The National Association of Realtors today released pending home sales numbers that showed that The Pending Home Sales Index, which is an indicator based on contracts signed, as opposed to actual home sales, fell 4.0% to 82.3 in November 2008.
This is from a downwardly revised reading of 85.7 in October, and is 5.3 percent below November 2007 when it was 86.9. The reading for the index, is the lowest since the NAR started it in 2001.
According to the NAR, “The PHSI in the Northeast dropped 7.2 percent to 63.2 in November and is 14.6 percent below a year ago. In the Midwest the index fell 6.7 percent to 74.2 and is 10.1 percent below November 2007. The index in the South declined 2.2 percent to 85.3 in November and is 12.7 percent below a year ago. In the West, the index was down 2.4 percent to 101.2 but remains 19.3 percent higher than November 2007.”
Tags: Home Sales Pending Home Sales
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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