Tuesday, February 2, 2010

Quick Notes for the Day - February 2

December Pending Home Sales Rise - The National Association of Realtors stated the pending home sales index rose 1% in December versus a 16.4% fall in November (when buyers new the home tax credit had been extended). A recent survey of real estate agents by the NAR stated that buyers returned to the market for preowned homes in December after a federal tax credit was reinstated. On a year over year basis, the index is up 10.9%. The gain in the pending sales index portends a similar gain in existing home sales for January, which will be reported in three weeks. In December, existing home sales fell 16.7%.

Geithner Appeals for Bipartisan Attack on Deficits - Reuters - "Treasury Secretary Timothy Geithner appealed to Republicans on Tuesday to join a bipartisan bid to wrestle down soaring deficits that he blamed largely on the former Bush administration."

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