The National Association of Realtors' seasonally adjusted index of pending sales for existing homes rose 5.3 percent to 89 from May's reading, which was revised downward to 84.5 from an earlier reading of 84.7.
The June index was 12 percent below year-ago levels.
Source of info is NAR, historically proven to be blatant liars with an axe to grind.
One month old info is revised DOWN. uh-huh.
The June index they're crowing about is down year on year 12 percent.
Tell me again how this is positive? (Yes, the BIGGEST month of the year for home sales is likely to be a bit above same-year prior months. But to spin 12% down YOY into a positive is indicative of the kind of 'news reporting' we are subject to.)
Thanks for the post, Nu2.
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