“June Pending Home Sales Index” Shows Market Improvement

The Pending Home Sales Index, reports an upward trend in sales. based contracts signed in June Pending Home Sales Index indictes 0.5% increase in sales, compared to the May downward revised index of 97.5, but is 8.6% below June 2006 when it stood at 112.0. At a 5.0% monthly gain, this is the largest gain in more than three years, following a 6.1% increase in March 2004. There is an indication that major declines have already occurred, with further declines if any, to be modest considering the pent-up demand.

The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Prices in ManhattanBeach and HermosaBeach are holding, or slightly up during this month’s activity.

ManhattanBeach,HermosaBeach,RedondoBeach,ManhattanBeach,HermosaBeach,RedondoBeach,ManhattanBeach,HermosaBeach,RedondoBeach,ManhattanBeach,HermosaBeach,RedondoBeach,ManhattanBeach,HermosaBeach,RedondoBeach