Pending Home Sales Fall 1.9 Percent

Investor's Business Daily (04/09/08) P. A1
The National Association of Realtors reports a 1.9-percent drop in its Pending Home Sales Index in February from January. Year-over-year, the index sank 21.4 percent. Experts believe the bigger-than-anticipated decline will translate into fewer closed sales in March or April, although NAR predicts the market will stabilize in the coming months and rebound by year's end.