The National Association of Realtors said on Thursday its Pending Home Sales Index, based on contracts signed last month, rose 5.9% to 122.1 last month. Contracts increased in all four regions last month.
Economists polled by Reuters had forecast pending home contracts, which become sales after a month or two, gaining 3% in July. Pending home sales surged 15.5% from a year ago. The housing market is being powered by record low interest rates and a migration to low-density residential areas as companies allow employees to work from home.
Data last week showed a record jump in sales of previously owned homes in July. Homebuilding and permits also soared last month, while confidence among homebuilders increased in August to the highest level since December 1998.
I’m going into the foreclosure business.... 0% interest doesn’t pay the principal, taxes, insurance, maintenance, sewer/water taxes when you go down with a COVID-Flu combo, malls close, all recreational activities cease, jobs are lost, second income dries up....
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How many of these homes are purchased as Non primary residences?
This is one of the signs that the country is doing very well economically. Otherwise, where are they getting the money to buy these homes🙏😀
R, There is nothing under the Sun!
Who are the fools buying these homes at housing bubble highs?
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Source: BusinessInsider - 🏆 729. / 51 Read more »