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Will August’s home sales decrease take a toll on prices?; West a hot market

home sales

home salesBy Lisa Selin Davis | realtor.com

Pending home sales retreated slightly in August, but they’re still much stronger than they were a year ago, according to the Pending Home Sales Index from the National Association of Realtors®, which measures homes that are under contract but not yet sold.

The index dropped just 1.4% from July to August but still rose for 12 straight months, and August 2015’s numbers were still 6.1% above August 2014. The West—with booming California and Denver markets—saw its numbers increase, but all other regions declined.

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