Fresh: A Perishable History

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´╗┐dd to earnings. The number of contracts signed to buy previously owned homes slipped Adidas Gazelle Og Navy Suede in June, a sign the US housing recovery remains Womens Adidas Purple Gazelle Og Iv Trainers

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3 per cent last month. That suggests many Americans remain unwilling or unable to enter the market despite historically low borrowing costs and a pickup in job creation. Lenders are still imposing strict lending standards, and home prices have risen sharply over the past two years. Meanwhile, Americans incomes are growing tepidly. Lawrence Yun, NAR chief economist, said sales conditions have improved since the winter as price gains have eased and more homes have come on the market. "However, supply shortages still exist in parts of the country, wages are flat, and tight credit conditions are deterring a higher number of potential buyers from fully taking advantage of lower interest rates," Mr Yun said in a statement.

Rat.

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Pending home sales offers a particularly fresh look at the market because it measures contract signings, which occur weeks or even months before sales become final. The NAR closely watched barometer of existing home sales which measure sales after contracts close climbed last month to the highest level since October, the trade group said last week. Those sales, which reflect roughly 90 per cent of the market, have risen for three straight months but remain below the year ago level. But sales of newly built homes fell 8. 1 per cent in June from the prior month, the Commerce Department said last week. The housing market had been a catalyst for the broader US Adidas Gazelle Black And White On Feet

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economy starting in 2012, Adidas Gazelle Red Gum

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choppy despite a retreat in interest rates. An index of pending home sales, reflecting purchases under contract but not yet closed, fell 1. 1 per cent to a reading of 102. 7 in June from May, ending three months of gains, the National Association of Realtors said. The above 100 reading indicates market activity was still "average," if not robust, the trade group said. Compared to a year ago, pending home sales were down 7.

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but cooled last year after mortgage rates started to rise.

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