Luxury Realty, Inc. Blog

Positive Housing Report Spurs Stock Market
April 3rd, 2007 6:40 PM
Stocks Surge on Positive Housing Report

The National Association of Realtors' index for pending sales of existing homes rose in February at a seasonally adjusted annual rate of 0.7 percent. The index is below the previous twelve month indicator but better than investors expected.  Investors, who were surprised by the news, took the results as an indicator that the housing market is not being as affected by the subprime mortgage woes as previously thought.
The NAR projects that March and April results may show artificially deflated activity due to nationwide inclement weather.
Posted by Chris Cowen, Realtor/Managing Broker on April 3rd, 2007 6:40 PMPost a Comment (0)
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