US pending home sales rose in July by more than forecast to the highest level since 2005, signalling the housing market's sharp recovery will continue with borrowing costs to stay low for the foreseeable future. Read more at The Business Times.
Still, unemployment remains elevated and income uncertainty could slow demand for residential real estateThe gauge's rebound following an initial decline at the pandemic's start shows that housing continues to be an area of strength for the recovering US economy, in part
because people are looking for more space while being stuck at home.US pending home sales rose in July by more than forecast to the highest level since 2005, signalling the housing market's sharp recovery will continue with borrowing costs to stay low for the foreseeable future.
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