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Personal income, Pending home sales, Real house prices

Summary:
Flattened out at modest levels of growth with no sign that the tax cuts have led to an acceleration: Pending home sales fall for seventh straight month in July Signed contracts to buy existing homes fell 0.7 percent in July compared with June, according to the National Association of Realtors’ pending home sales index. The gauge was down 2.3 percent compared with July 2017. That is the seventh straight month of annual declines. Pending home sales are an indicator of future closed sales. Adjusted for inflation, house prices don’t look so high:

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WARREN MOSLER writes PMI, Existing home sales, Permits, Homebuying index, Fed book, China car sales, Federal budget

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Flattened out at modest levels of growth with no sign that the tax cuts have led to an acceleration:

Personal income, Pending home sales, Real house prices

Personal income, Pending home sales, Real house prices

Pending home sales fall for seventh straight month in July

  • Signed contracts to buy existing homes fell 0.7 percent in July compared with June, according to the National Association of Realtors’ pending home sales index.
  • The gauge was down 2.3 percent compared with July 2017. That is the seventh straight month of annual declines.
  • Pending home sales are an indicator of future closed sales.
  • Adjusted for inflation, house prices don’t look so high:

    Personal income, Pending home sales, Real house prices

    WARREN MOSLER
    Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

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