by Rick Delgado
on Monday, July 30th, 2012 at 12:30pm.
Thursday we got the news that Pending Home Sales for June dipped 1.4%, but the number was still UP 9.5% from a year ago, making 14 months in a row of year-over-year gains. This measure of existing homes under contract could foretell a small glitch in sales a few months out. The FHFA index of prices for homes financed with conforming mortgages gained 0.8% in May and is 3.7% ahead of a year ago. This home price index is up at a 13.3% annual rate the last three months, its fastest three-month pace in twenty years!