Pending Home Sales Jump Sharply In August By 7.4 Percent

Sunny Isles Beach broker News

Pending home sales jumped activity as buyers took advantage of low property prices and interest rates affordable, according to the National Association of Realtors.

Pending Home Sales Index, 1 prospective indicator based on contracts signed in August, jumped 7.4 to 93.4 percent from a revised increase of 87.0 reading in July, and is 8.8 percent above August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.

Pending home sales are strong in California, Nevada, Arizona, Florida, Rhode Island and Washington, DC area.