Tomorrow morning's existing-home sales report for June from the NAR (National Association of Realtors) is widely expected to receive a boost from the expiration of the federal home purchase tax credit at the end of that month. However, analysis of pending home sales data (also from the NAR) leads to a projection for a low number of existing home sales for June.The NAR describes the value of pending home sales data as follows:
Brace for Disappointing Existing-Home Sales
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