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DJ US Pending Home Sales Index Down 1.1% In Sep -NAR WASHINGTON (Dow Jones)--A leading index of U.S. home sales fell slightly in September, suggesting some leveling off of activity in the months ahead. The National Association of Realtors index for pending sales of existing homes decreased at a rate of 1.1%, to 109.1 from 110.3, the industry group said Wednesday. The index rose 4.7% in August. The index was 13.6% below the level of September 2005. Commenting on the report, NAR chief economist David Lereah said, "the present level of home sales is relatively high in historic terms, and we can expect generally minor movements around this level." "We don't expect to see any changes of note until early next year when we're likely to see a modest lift to home sales," he added. By region, an index showed a 5.9% decline in the Northeast - and a 15.9% decrease since September 2005. It rose 2.1% in the Midwest - and was down 18.4% in the 12-month span. The West saw a 0.4% fall and a 15.2% drop in the past year. The index for the South declined 1.3% and was 9% lower versus September 2005. The NAR index is based on pending sales of existing homes, including single-family homes and condominiums. A home sale is pending when the contract has been signed but the transaction has not closed. Pending sales typically close within one or two months of signing. Last week, NAR reported that existing home sales fell a sixth-straight time in September, by 1.9%. Median home prices also fell versus the same month in 2005, though Lereah said when the report was released that it likely represented "the trough" for sales. Other data suggest some stabilization. The Commerce Department reported a surprising 5.3% rise in new home sales in September. Housing starts also posted an unexpected gain in September. |
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| Autor (Datum des Eintrages): | nachtschatten (01.11.06 17:42:50) |
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