Another stubborn and unexpected report on the Obama Boom. Pending Home sales collapsed to their lowest level in 7 months. The experts are blaming bad weather, yet again for this decline. Keep in mind, the housing market has been in the dumps for 5 years now and no end is in sight. In fact, housing is undergoing a double dip recession.
Pending sales of existing U.S. homes dropped far more than expected in April to touch a seven-month low, a trade group said on Friday, dealing a blow to hopes of a recovery in the housing market.
The National Association of Realtors Pending Home Sales Index dropped 11.6 percent to 81.9 in April, the lowest since September. Pending home sales lead existing home sales by a month or two.
Economists, who had expected pending home sales to fall 1.0 percent last month, said bad weather in some parts of the country might have affected home shopping.
Another blame the bad weather report. Well the bad weather is called Obama’s failed debt based polices. These propagandists will never stop spinning!
Tags: Pending Home Sales, Weather
