patrick.net

overall August pending home sales index at 82.3, a 4.3% increase vs. July. In the west, pending homes sales index is 101.1, above March 2010 level of 100.4 and 5% below April 2010. The effect of the tax credit expiration is waning and sales are slowly picking up without tax credit boost and almost back to pre-credit level this Spring. Summer 2010 sales will be horrible, but Fall 2010 looks like it will fall back into the Spring level, not summer.

An index of 100 coincides with 2001 activity.

http://www.realtor.org/ro/research/23a8mwa48fasp34aag049grejw4/phs1008.pdf

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