FXstreet.com (Barcelona) - Pending home sales have decreased softly in the United States in Match, which points out to a flat pattern in home sales activity for the next couple months before showing some improvement over the summer, as the latest forecast by the National Association of Realtors shows.
The pending home sales index has declined 1.0% to 83.0 from the 83.8 level posted in February. The current level remains 20.1% lower than the 103.9 level posted in March 2007.
Accordingg to lawrence Yun, NAR chief economist, the home sales situation will recover, providing better credit access: Things are beginning to improve, but the availability of affordable mortgages is uneven around the country and sometimes within metropolitan areas (â€¦)As anticipated, we continue to look for a soft first half of the year, for both housing and the economy, before notable improvements in the second half. Some time is needed for FHA and new conforming jumbo loans to become widely available.
The NAR report advances some improvement in the sector, picking up slowly in the second half of the year to improve sensibly over the next year, existing home sale, according to the report will rise from a 4.94 million pace in the first quarter, to 5.82 million in the last quarter.