Pending home sales sink 2.6 percent in June

AP/Yahoo ^ | 8/3/2010 | Alan Zibel

[Stevenc131]

The National Association of Realtors said Tuesday that its seasonally adjusted index of sales agreements for previously occupied homes dipped 2.6 percent to a reading of 75.7.

That was the lowest on records dating back to 2001 and down nearly 19 percent from the same month a year earlier. The index has fallen by more than 40 percent from its peak in April 2005

[Stevenc131]

Obama's imaginary recovery summer continues.

[LeonardFMason]

Cue the song at the Blight House: Happy Days are here again.......

[frogjerk]

[Common Sense 101]

Odumba$$: We have turned the corner in the housing market...

[KC_Conspirator]

Recovery Bummer.

[jiggyboy]

The only "green shoots" are in the never-to-be-used driveways.

[Carley]

The election in November will portend the future.

Republicans win then the economy will rebound.

For now there is hardly anyone willing to support this regime with their money.

[Recon Dad]

FYI, we close on our dream house 8/24 down in Hampstead, NC.

Interest rate of 4.3%

[Spok]

Further into the abyss and toward a police state.

[whitedog57]

Loan will be bought by Fannie/Freddie or insured by FHA.

Congrats to you, but bear in mind that you are supporting Democratic policy.

[TexasFreeper2009]

unexpected?

[whitedog57]

http://www.washingtonpost.com/wp-dyn/content/video/2010/07/30/VI2010073004963.html

And Obama/HUD wants MORE control of the housing/mortgage market!!!!

[Qbert]

“...That was the lowest on records dating back to 2001 and down nearly 19 percent from the same month a year earlier. The index has fallen by more than 40 percent from its peak in April 2005.”

Looks like the homebuyer’s credit really did wonders. (/s)

[Recon Dad]

Ok, I’ll skip the house and buy a tent. /sarc

[tired&retired]

I’ve been monitoring the prices now for two months in the Durham/Chapel Hill NC area to buy a new home. The prices just keep falling and I keep waiting. There are four times the number of new sales listings to sales in the past thirty days. Homes over $400K are not selling at all. The number of forclosures and short sale listings is unbelievable. Banks are sitting on the high end homes without forclosure as they can’t absorb the losses on their financials.

I’m hoping my dream house comes along soon at the right price.

[Recon Dad]

Mine did. I have a 3,000 sf two story in Ohio (still not sold, but paid for). I am getting a 2,000 sf ranch on the 14th hole of a golf course about 2 miles from the ocean. If this was two or three years ago I couldn't have afforded this home, but now I can lower the price on the home in Ohio and still come out ok.

[whitedog57]

Rent?

This gets to the core of the debate - the Dems want everyone to own ... at all cost! To the taxpayers.