Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

May Drop in Pending Home Was Expected
Jul 12, 2010
 Printable format
 Email this Article
 Search

The National Association of Realtors was not surprised by the drop in U.S. home sales in May, coming after the surge in sales driven by the April deadline for the home buyer tax credit.

The Pending Home Sales Index, a forward-looking indicator, dropped 30.0% to 77.6 based on contracts signed in May from a reading of 110.9 in April, and is 15.9% below May 2009 when it was 92.3. The decline comes after three strong monthly gains.

The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

"Consumers are rational and they rushed to meet the tax credit eligibility deadline in April," said NAR chief economist Lawrence Yun. "The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June. Surprisingly, though, some local markets such as Portland, Maine, and Jacksonville, Florida, actually experienced an increase in contract signings from a year ago without the tax credit."

Back to Daily News

 

Daily News

...........................................................

Nov 21, 2014: Electrolux: new U.S. fridge efficiency requirements are more complex than anticipated

Nov 21, 2014: Whirlpool brand launches Perceptions of Care video

Nov 21, 2014: Hon Hai 3Q profit $1 billion

Nov 21, 2014: Environmental Product Declarations for aluminum product types released

Nov 20, 2014: Report: Drop in affluents' consumer confidence may foretell signal trouble ahead for some retailers

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows