When is Down UP in Real Estate?...

Pending home sales fell for the third consecutive month in September according to data released today by the National Association of Realtors^® (NAR)^.  NAR's Pending Home Sales Index, a forward looking indicator of home sales contracts signed during the month, fell 4.6 percent to 84.5 in September from 88.6 in August and 89.7 in July.  Even with the downturn the index is still 6.4 percent higher than the September 2010 level of 79.4.