Existing single-family home sales were down slightly in June, but National Association of Realtor's forward-looking indicator suggest sales growth will pick up smartly in the months ahead. The sales pace was 4.86 million units, down from 4.99 million in May. The pending home sales index, though, jumped to 89.0 from a downwardly revised 84.5 in May. (Realtor Magazine, September 2008).
Steady Buyer Traffic
Practitioners' expectations remain moderate but the outlook for buyer traffic is holding up well, with only a statistically insignificant easing seen. Practitioner confidence in seller traffic is down, though. Practitioner views were surveyed in July. (Realtor Magazine, September 2008) *Results are based on 1,562 responses to 3,000 surveys sent to large and small real estate offices. The survey asks practitioners to indicate whether conditions are strong (100 points), moderate (50), or weak (0). Responses are averaged to derive results.