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According to The National Association of Realtors, pending home sales, which reflect signed contracts and not closings, fell 4.6 percent in September, though they remain higher than a year ago. Compared to September 2010, pending sales are up 6.4 percent. Lawrence Yun, NAR’s chief economist, said there continues to be weakness in consumer confidence, despite the fact that the private sector added nearly 2 million net new jobs in the past year. Regionally, the Midwest showed the most year-over-year improvement, rising 12.3 percent, though all regions are up from the September 2010. More here.
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