Home Buyers Slower to Sign Contracts
Sarasota Herald-Tribune (FL) (09/30/14)

The volume of signed real estate contracts fell in August, indicating that activity in the sector could be quiet in the coming months. The National Association of REALTORS® reported that its index of pending home sales dipped 1 percent from July and is down 2.2 percent from August 2013. Contract signings were lower in all four U.S. geographical regions -- the Northeast, Midwest, South and West -- month over month, after increasing in four of the five months prior. "We hope this lost ground will be recovered gradually," remarked Pantheon Macroeconomics chief economist Ian Shepherdson, "but with investors disappearing from the market and homebuilders gaining market share from private sellers, it will take time."