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So much for the hype - pending sales down
Even the most shameless real estate market hucksters will have a hard time spinning this one.
Pending home sales actually fell .08 percent in April from March, the National Association of Realtors reported today. That's a more than 12 percent drop from April, 2010.
The news bucked widespread expectations of a modest increase in pending sales over March, with economists having predicted a 2 percent bump.
Those predictions, in turn, had spurred some market observers to even postulate that the pending sales numbers might show evidence of a market turnaround, or at least forward momentum.
But the real estate momentum right now appears stuck in reverse - both in prices and sales.
About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate
and business issues.
Rona Fischman is a buyer's agent who provides a look at the local housing scene, from basements to attics.
