Skip to content

January 6, 2009

2

Home Sales Index Falls To Lowest Level Ever!

by Bob Schwartz

 

home sale indexThe National Association of Realtors reported today that their Pending Home Sales Index, based on contracts signed in November, dropped 4.0 percent to 82.3, the lowest level since the series started in 2001.
 
Lawrence Yun, NAR chief economist said: "Mounting job losses and very weak consumer confidence deterred home buyers from signing contracts in November. December's housing market activity could be comparably lower due to ongoing problems in the economy."

 

 

November's reading was 5.3 percent lower than a year-ago and October's pending home sales index was revised down to 85.7.                                         San Diego real estate agents

 

 

 

Related other blogger’s posts:

 

 

 

Economic Slump Weakens Pending Home Sales – Wall Street – The current index is the lowest since the series began in 2001. I'll just repeat my comment from last month: Existing home sales have been boosted by all the distress sales in low priced areas. Over time, as foreclosure activity shifts …

TheStar.com | Business | U.S. pending home sales plunge to record low – So November's decline foreshadows bleak results for December's existing home sales numbers, set to be release Jan. 26. Sales contracts fell around the country, but were weakest in the Northeast and Midwest. The Realtors' index was down …

Pending home sales index down 4% in November – MarketWatch – The index, which is considered a leading indicator of existing home sales, was down 5.3% from the prior year. Pending home sales in November fell in all four regions, with declines of 7.2% in the Northeast, 6.7% in the Midwest, …

Pending Home Sales Index Collapses | The Big Picture – PHSI, Annual % Change, 2002 – 09 > The Pending Home Sales Index fell 5.3% below November 2007 when it was 86.9, based on contracts signed in.

If you enjoyed this post, make sure you subscribe to my RSS feed!
Read more from Real Estate
, , , , , ,
2 Comments
  1. Hoodia Diets
    Jan 9 2009

    A house is WORTH what you can sell it for. Since it is virtually impossible to sell a house today, it’s WORTH is obviously less that the asking price.
    Hoodia Gordonii Diets

  2. California bail bonds
    Jan 9 2009

    I have followed this blog for about 4 years – everything it predicted is coming true.
    California Bail Bondsman

Comments are closed.