According to the National Association of REALTOR’s, the Pending Home Sales Index, a forward-looking indicator, rose 5.2% to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
“Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” said Lawrence Yun, NAR chief economist. source: http://www.cnbc.com/id/38971537
Here in Florida it’s looking more & more like the housing crisis has finally bottomed, population increased 21K from last April to this April.