Reginal Thomas
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Housing Numbers Miss Expectations

Pending home sales for the month of July fell 1.3% expectations were closer to 1.0% so even though they arent great they certianly are't as bad as they could be. Overall for the year sales are up 8.6% which is better than the 7.6% everyone was expecting. 

Lawrence Yun, the chief economist at NAR said, "higher mortgage interest rates and rising home prices are impacting monthly contract activity in the high cost regions of the Northeast and the West" This isn't a surprise to anyone who lives in New York, the home of the micro-apartment.