Tuesday, January 29, 2013

NAR: Dec. pending home sales down but still uptrend

It's that time of the month to look at home sales trends.  A press release issued by the National Association of Realtors (NAR) this week reports pending home sales declined in December but have stayed above year-ago levels for 20 consecutive months.

NAR pointed to several factors involved in the decrease. One of the factors may be the supply - more buyers then sellers.  The study also pointed at current sales prices and the fact that first time buyers have fewer options available to them.

Still, Lawrence Yun, NAR chief economist, is forecasting existing-home sales to increase another 9 percent in 2013, following a 9 percent rise in 2012.

To read the press release, click here.

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