Friday, May 05, 2006

Pending Home Sales Down

The National Association of Realtors® (NAR) reports that "The Pending Home Sales Index,* based on contracts signed in March, eased 1.2 percent to a level of 116.2 from an index of 117.6 in February, and is 6.0 percent below March 2005."

The chief economist for the NAR attributes the decline to rising mortgage interest rates.

To read more: March 2006 Pending Home Sales

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