Pending Home Sales Drop
brokerforyou.com
Real estate market
The national Association of realtors released a report today that showed that pending home sales for July drop 1.3%.
Sorry, if I’m sounding repetitive here, but these bad reports for real estate, occurring as they are during our seasonally strongest marketing time, are very ominous.
The good news for us here in the West was the fact that the pending home sales year for July were actually up 3.6%! The bad news, at least for the people in the South was that the July pending home sales there that the largest drop of 4.8% for July.
For the week ended August 19,the number of mortgage applications drop to their lowest level since 1996, according to a report by the Mortgage Bankers Association.
San Diego real estate services
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Prices are so low already in the south that I am surprised their sales are not doing better. The west and northeast still have the highest prices, but I guess the demand is still there.