Photo: Casey Serin/Flickr
The September pending home sales report is out and it’s a miss.
Sales climbed by just 0.3%, according to the National Association of Realtors.
Economists are looking for 2.5 per cent increase.
“Home contract activity remains at an elevated level in contrast with recent years, but currently appears to be bouncing around in a narrow range,” said NAR economist Lawrence Yun. “This means only minor movement is likely in near-term existing-home sales, but with positive underlying market fundamentals they should continue on an uptrend in 2013.”