Thursday, March 09, 2006

Pending Home Sales Decrease

The California Association of Realtors reported that the the number of pending homes (transactions that have signed contracts, but have not yet closed) decreased in January for the 5th straight month. The index used by the association stands at 116.3. An index reading over 100 generally indicates a high level of home sales activity.

This is another sign of the market cooling off, or that predicted soft landing.

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