By Trey Garrison | HousingWire
Pending home sales were mostly unchanged in July, but rose modestly for the sixth time in seven months, according to the National Association of Realtors.
But annually the July rate was up 7 percent over July 2014. Consensus expectation was for a 1 percent gain over the seasonally adjusted sales rate for June, following an upwardly revised decline of 1.7 percent last month.
Selma Hepp, chief economist at Trulia, says that looking at this month’s report, pending home sales have picked up their pace slightly, solidifying expectations of a solid summer home-buying season.
