Pending Home Sales Miss Big; How Markets Reacted

According to the latest numbers from the National Association of Realtors (NAR), homebuyers’ willingness to pay increasingly hefty prices may be waning. The NAR reported Monday that pending home sales fell 1.4 percent month-over-month (M/M) in August, a sign that the housing market may be beginning to cool off.

Demand Not A Problem

Despite the disappointing headline number, NAR chief economist Lawrence Yun says that market fears and high prices, rather than lackluster demand, are to blame for the August decline.

“Pending sales have leveled off since mid-summer, with buyers being bounded by rising prices and few available and affordable properties within their budget,” Yun wrote in a statement.

Fundamentals Strong

August pending home sales remained…

Click here to continue reading

My book is on sale for just $0.99 through the end of September only!

Then it goes back to its regular price of $79.99, so you’d better get it now….

Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common SenseI don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and is always available on your local internet!