Contracts to purchase previously owned U.S. homes unexpectedly fell in April to a four-month low, undermining some of the recent optimism that the housing sector was touching bottom.
The National Association of Realtors said on Wednesday its Pending Home Sales Index, based on contracts signed in April, fell 5.5 percent to 95.5, its lowest level since December.
Of course, this is the trend for the nation; your area may be different. But as I have been trying to point out, we are in a bottoming process, not the bottom. There is still much more pain to come from macro economic factors that will affect the housing market. It doesn't mean you can't make money, it's just not time to throw caution to the wind.
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Always Looking to Acquire Houses | Always Looking to Amaze Investors
Contracts to purchase previously owned U.S. homes unexpectedly fell in April to a four-month low, undermining some of the recent optimism that the housing sector was touching bottom.
The National Association of Realtors said on Wednesday its Pending Home Sales Index, based on contracts signed in April, fell 5.5 percent to 95.5, its lowest level since December.
Of course, this is the trend for the nation; your area may be different. But as I have been trying to point out, we are in a bottoming process, not the bottom. There is still much more pain to come from macro economic factors that will affect the housing market. It doesn't mean you can't make money, it's just not time to throw caution to the wind.
Always Looking to Acquire Houses | Always Looking to Amaze Investors