Housing market revived in April

In a sign that the housing market may be set for a rebound, the pending home sales index increased 6.3% in April.
JUN 09, 2008
By  Bloomberg
In a sign that the housing market may be set for a rebound, the pending home sales index increased 6.3% in April, the National Association of Realtors reported today. The increase in the index, which measures signed sales contracts, is the highest since October but 13.1% lower than April 2007. Pending home sales increased in all four regions, with the Midwest recording a 13% rise, the West jumping 8.3%, the South increasing 4.6% and the Northeast inching up 2%. The increase was attributed to a drop in home prices that has attracted bargain hunters, according to Richard Gaylord, president of the Chicago-based NAR. “It appears that more buyers are realizing they can take advantage of a favorable combination of mortgage interest rates, home prices and family income,” said Mr. Gaylord, who is also a broker in Long Beach, Calif, with RE/Max International Inc. of Denver.

Latest News

Finra's Reg BI Enforcement: Is it 'ineffective, costly'?
Finra's Reg BI Enforcement: Is it 'ineffective, costly'?

The industry watchdog's own reports reflect failures to deter "willful" and "repeat" violations, raising a crucial question about the future of regulation.

SEC prepares to back away from defending climate rule in court
SEC prepares to back away from defending climate rule in court

Acting Chairman Mark Uyeda directed SEC staff to initiate a pause in court while the commission awaits a quorum. The SEC may decide to withdraw from defending itself in a lawsuit over last year's climate disclosure rule.

wealth.com welcomes Kathy Wunderli in private wealth push
wealth.com welcomes Kathy Wunderli in private wealth push

The top estate planning platform's veteran hire will lead its legal team's efforts to develop estate planning, tax analysis, and wealth transfer solutions for ultra-high-net-worth clients.

Morgan Stanley loses $843,000 investor claim stemming from 'gold bar' scam
Morgan Stanley loses $843,000 investor claim stemming from 'gold bar' scam

“If Morgan Stanley had called my client’s son, this wouldn’t have happened,” the investor's attorney said.

LPL welcomes $630M sibling advisor duo from Corebridge
LPL welcomes $630M sibling advisor duo from Corebridge

Meanwhile, Ameriprise has bolstered its own ranks as an LPL defector joins its branch channel in California.

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.