Pending home sales unexpectedly rose 7.4 percent in August, according to The New York Times. This is the highest reading since June of 2007, the paper reports, surprising economists surveyed by Thomson/IFR who expected the index to fall to 84.9 rather than rising to 93.4. Even states that have suffered the most, like California and Florida, are seeing an increase in sales.
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Home sales beat expectations
Commentary October 09, 2008 at 08:00 PM
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