PENDING HOME SALES UNEXPECTEDLY DROP
REUTERS/Aly Song
However, the pace of sales remains above average, notes the National Association of Realtors.
"Activity is notably higher than earlier this year as prices have moderated and inventory levels have improved," said NAR's Lawrence Yun. "However, supply shortages still exist in parts of the country, wages are flat, and tight credit conditions are deterring a higher number of potential buyers from fully taking advantage of lower interest rates."
The pending home sales index fell 2.9% in the northeast, increased 1.1% in the midwest, declined 2.4% in the South, and ticked up 0.2% in the West.
Yun expects existing-home sales will be down 2.8% year-over-year in 2014.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance