Morning Minute: Pending home sales rise slightly in September; remain higher than a year ago

Pending home sales rose slightly (up 0.3 percent) in September compared to August, but were 14.5 percent higher than a year ago, according to the latest Pending Home Sales Index released by the National Association of Realtors® today. Said NAR Chief Economist Lawrence Yun in a new release:

“Home contract activity remains at an elevated level in contrast with recent years, but currently appears to be bouncing around in a narrow range,” he said. “This means only minor movement is likely in near-term existing-home sales, but with positive underlying market fundamentals they should continue on an uptrend in 2013.”

Watch this video from NAR to hear more about pending sales along with Yun’s forecast for the rest of the year.

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.