Wednesday, June 3, 2009

Misleading Headline: Pending home sales at 8-year high

The headline in today’s Contra Costa Times Business Section reads: Pending home sales at 8-year high

Really? There are more homes pending sale than there have been for 8 years?


The first paragraph clears up the confusion.

The number of U.S. homebuyers who agreed to buy a previously occupied home took the largest monthly jump in nearly eight years in April, but there are still plenty of danger signs for the U.S. housing market.

Here is the actual press release and data: Pending Home Sales Index Rises