Over at the NYT the Associated Press has a great article about how strong home market sales have been over the last six months. Although it is true that sales have fallen off a bit of late, the latest numbers indicate that this bull market is not likely to go anywhere but up anytime soon! Here’s an excerpt from the article, be sure to head on over to read the whole thing!
“The National Association of Realtors said its seasonally adjusted index for pending home sales declined 1.3 percent, to 109.5 in July. That is close to May’s reading of 111.3, which was the highest since December 2006.
The small decline suggests that sales of previously owned homes should remain healthy in the coming months. There is generally a one- to two-month lag between a signed contract and a completed sale.”