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Pending Home Sales Fall Due to Dwindling Supply

Signed contracts to buy existing homes fell 4.3 percent in December from the previous month, according to a monthly index from the National Association of Realtors.

Much of last year’s gains in existing home sales was driven by investor demand for foreclosures and other distressed properties. Millions of dollars, largely in cash, from private equity, flowed into the market, pushing supplies down dramatically and even causing bidding wars in some of the previously hardest hit markets. To watch the video…

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February 2, 2013 - Posted by | Uncategorized | , ,

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