June pending home sales unexpectedly up

Pending sales of U.S. homes rose unexpectedly in June for the second month in a row, defying other recent housing market indicators pointing to a slowdown in the [tag]housing sector[/tag]. The [tag]National Association of Realtors[/tag]’ Pending Home Sales Index, based on contracts signed in June, rose 0.4 percent to 113.9 from an upwardly revised level of 113.5 in May. Real Estate Investing for Dummies

“The housing market is striving for balance – a process that will take several months. A quieting in the movement of indicators should restore confidence to home buyers who have been on the sidelines, waiting for the right time to get into the market,” Lereah said.