July 8, 2008
Pending Home Sales Down Nearly 5%
By Matthew L. Brown
The National Association of Realtors Pending Home Sales Index fell by 4.7 percent in May.
That brought the seasonally adjusted index to 84.7 compared to the 88.9 it hit in April. The May reading is 14 percent below May of 2007, when the index hit 98.5.
The index's all-time low came in March, when it dipped to 83.
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