Lawrance Yun

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Pending Home Sales Surge

Oct 08, 2008By

Pending home sales activity surged in August as buyers took advantage of low home prices and affordable interest rates, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, jumped 7.4 percent from July to August, and stood 8.8 percent higher this August compared to August 2007.  The index is, in fact, at the highest level since June 2007.

3d rendering of a row of luxury townhouses along a street

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