Jun 29, 2012
Pending sales jump may be wishful thinking
29 Jun 2012
Posted by Andrew Kantor
Interesting take on yesterday’s post about pending home sales. Barry Ritholtz points out that so many sales are derailed by buyers’ inability to get financing, “pending sales” are outpacing actual sales by a huge amount.
The result is that, as good as it is to see the Pending Homes Sales Index so high, it really may not mean much at all.