Low Mortgages spur on Pending Home sales

Written September 2, 2010 at 10:05 AM EST by  

This are for contracted sales. They rose 5.2% but are down -20% for the year.

The NE rose 6.3%
The Midwest rose 4.1%
The South 1.2%
The West rose 11.6%

Better than expected but off a low base. The last two months have shown a -2.8% and -29.9% decline and contracted sales are not closed sales. Nevertheless, the lower rates are stirring some interest from buyers.

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