Sunday, April 10, 2005

The National Association of Realtors® releases home sale predictions

The National Association of Realtors® uses their PHSI indicator (Pending Home Sales Index) to predict that home sales will remain strong. NAR states that "...based on data collected for February, [the PHSI] stands at 123.2, which was 2.2 percent above January and 10.4 percent above February 2004. The index is based on pending sales of existing homes, including single-family and condo. A home sale is pending when the contract has been signed but the transaction has not closed. Pending sales typically close within one or two months of signing."

To read more, go here.

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