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Pending Home Sales Plunge, Reaching Seven-Month Low...

By: Decomposed in ROUND | Recommend this post (2)
Fri, 27 May 11 6:40 PM | 141 view(s)
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Pending Home Sales Plunge, Reaching Seven-Month Low

Published: Friday, 27 May 2011

by Reuters

Pending sales of existing U.S. homes dropped far more than expected in April to touch a seven-month low, a trade group said on Friday, dealing a blow to hopes of a recovery in the housing market.

The National Association of Realtors Pending Home Sales Index dropped 11.6 percent to 81.9 in April, the lowest since September. Pending home sales lead existing home sales by a month or two.

Economists, who had expected pending home sales to fall 1.0 percent last month, said bad weather in some parts of the country might have affected home shopping.

Full story: http://www.cnbc.com/id/43193255

Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

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