Contract signings to purchase previously owned U.S. homes rose less than forecast in October after declining in the prior two months, showing residential real estate is cooling heading into the quieter selling season. An index of pending home sales increased 0.2 percent in October after a revised 1.6 percent decline a month earlier, the National Association of Realtors said Monday. Economists projected a 1 percent advance last month, according to the Bloomberg survey median. Lean inventories of available properties are limiting choices for prospective buyers who qualify for credit. At the same time, steady hiring gains and early signs of a pickup in worker pay probably will continue to support housing demand even after a recent gain in borrowing costs in anticipation of an increase in the Federal Reserve’s benchmark interest rate.
Author:Darik Steinbach Phone: 952-239-4290 Dated: December 1st 2015 Views: 203 About Darik: I have been selling residential real estate in Minneapolis full time for 10+ years.
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Thank you for spending the time in getting me into my new home! And for putting up with apprehensive me during the process. I am happy in my new townhome and although still getting settled in, I am enjoying it. Again, thank you for your knowledge of knowing how to put it all together with selling & buying. Everything worked as you said it would!