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Pending sales of previously owned U.S. homes decline more than estimated

Posted on 30 August 2011

Ian ShepherdsonThe number of contracts to purchase previously owned U.S. homes fell in July for the first time in three months, a sign that lower prices and borrowing costs aren’t luring in buyers.
The 1.3 percent decrease in the index of pending home sales followed a 2.4 percent gain the previous month, the National Association of Realtors said today in Washington. Economists forecast a 1 percent drop, according to the median of 40 estimates in a Bloomberg News survey……………………………………….Full Article: Source


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