Sunday, January 08, 2006

Existing home sales indicate slowing

The National Association of Realtors® reports that "Pending home sales, a leading indicator for the housing sector, slowed for the third consecutive month and demonstrates that a market transition is firmly in place".

This recently released data covers existing home sales (as opposed to sales of new homes) that occurred in November of 2005. It will be very interesting to see what happens when the numbers are released for December, which is typically a slower month for housing activity. The NAR reports that August was the peak of the 2005 market.

To read more: Pending home sales

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