Pending Home Sales Sink 2.6 Percent in June
Press release from the issuing company
Wednesday, August 4th, 2010
The number of buyers who signed contracts to purchase homes dropped in June, as the weak economy and tight lending standards kept consumers away from the housing market.
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 more than 40 percent from its peak in April 2005. May's reading was revised slightly downward to 77.7.
