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Buyers market this fall? After 3 straight months of gains, the Pending Home Sales Index slipped 1 percent in July. Contract cancellations are up, too.
When the home buyer credit faced its last expiration in November 2009, we saw a pattern of buyers rushing to beat the deadline. There's no reason to expect that won't happen again. And as it does, Pending Home Sales should continue to climb. Average home sale prices should rise.