US Pending Home Sales Slip in October
The number of Americans signing contracts to buy homes fell slightly in October, as tight credit and lagging wages remained financial hurdles for would-be home-buyers.
The National Association of Realtors says its seasonally adjusted pending-home-sales index fell 1.1 percent the past month, to 104.1. The index remains below its 2013 average, but is 2.2 percent higher than last October.
Pending sales are a barometer of future purchases. A one- to two-month lag usually exists between a contract and a completed sale.
Housing has struggled to fully rebound since the recession ended more than five years ago. Many potential buyers lack the savings and strong credit history needed to afford a home, causing them to rent or remain in their existing houses instead of upgrading.
This article appeared in print in edition of Hamodia.
To Read The Full Story
Are you already a subscriber?
Click "Sign In" to log in!
Become a Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Become a Print + Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Renew Print + Web Subscription
Click “Renew Subscription” below to begin the process of renewing your subscription.
