The National Association of Realtors, a trade group that represents “Realtors” (not to be confused with real estate agents), is very excited about its Pending Sales Index.
The NAR says the index, which is a forward looking indicator based on monthly sales contracts, climbed 3.2 percent in July, and that’s up for the sixth consecutive month — the first time that’s happened since the NAR started tracking pending sales in 2001.
Based on this metric, NAR suggests that things are looking up in the real estate world.
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