Monday, August 3rd27.2°C
27162
26952

Pending sales of US homes fell 1.1 per cent in June; pace remains slower than in 2013

WASHINGTON - Fewer Americans signed contracts to buy homes in June, as the real estate market appears to have cooled off this summer.

The National Association of Realtors says its seasonally adjusted pending home sales index slipped 1.1 per cent to 102.7 last month. The index remains 7.3 per cent below its level a year ago.

Sales have been slowed by a mix of meagre wage growth, rising home prices, and mortgage rates that rose steadily through the end of last year.

Pending sales are a barometer of future purchases. A one- to two-month lag usually exists between a contract and a completed sale.

Signed contracts in June fell in the Northeast and South. They rose slightly in the Midwest and West. Pending sales in all four U.S. regions are below last year's pace.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14468.44+85.68
S&P CDNX594.31+6.01
DJIA17598.20-91.66
Nasdaq5115.38-12.90
S&P 5002098.04-5.80
CDN Dollar0.7595-0.0005
Gold1096.90+0.60
Oil45.83+0.27
Lumber259.40+7.30
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.42+0.00
Cantex0.035-0.005
Anavex Life Sciences1.13+0.22
Metalex Ventures0.05+0.00
Russel Metals19.40-0.05
Copper Mountain Mining0.79+0.01
Colorado Resources0.065+0.005
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.095-0.045
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
2306642210 - 440 Cascia Drive
3 bedrooms 3 baths
$4,295,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Mortgage policy changes?

There are rumours circulating again that the federal government may move to tighten mortgage insurance criteria. This is prompted by a recent article in the Financial Post. The housing market while b...


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...

_








Member of BC Press Council


25648