Foreclosed Home Sales Likely Driving Up U.S. Pending Home Sales

Economists say the second unexpected rebound in three months in the U.S. pending home sales index is likely due to sales of foreclosed homes. The June report from the National Association of Realtors (NAR) defied expectations for a 1.0% decline and rebounded 5.3% in June, following the 4.9% loss of sales in May. The bounce is better than the most optimistic forecasts beforehand... Read More Now