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Wednesday morning the National Association of Realtors released the September data for their Pending Home Sales Index. Here is an excerpt from the latest press release:
Lawrence Yun, NAR's chief economist, noted the decline in inventory and a small rise in mortgage rates in October from September to, in part, explain this month's signings drop. "While contract signings have decreased, the overall economic landscape remains favorable," Yun said. "Mortgage rates continue to be low at below 4% - which will attract buyers - employment levels are strong and many recession claims have