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Pending Home Sales Move Toward Equilibrium

May 4, 2010

Pending home sales move toward a reasonable demand figure, but within the context of the free-money down-payment program, only a fool would presume to propound a bullish stance.

The bears still have on their side record foreclosures, unprecedented negative equity, high unemployment, and a mortgage market wholly dependent upon government handouts.

To those considering a purchase, proceed with caution. Review 10 Key Charts to See Before You Buy Or Sell A Home. Check our projections of national price trends at The New Observations Forecast of Property Values.

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Please forward questions, corrections, and reactions to comments below or send me an email. Please send an email if you would like to take out a new mortgage.

mike@mynewmortgage.com

Michael David White is a mortgage broker in Chicago.

2 Comments
  1. May 5, 2010 7:44 pm

    Hi Greg, my guess is that we are years away from a normal market. thanks for your comment. mdw

  2. May 5, 2010 7:13 am

    Thank you. I can’t believe how many agents and brokers are giddy with the recent uptick in pending transactions. Let’s wait a few months to see how the loss of the tax credit affects the market before we celebrate the return of a decent market.

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