NM: Home Sale Contracts Dropped in July

New Mexico Gay Real EstateThe number of would-be buyer who signed contracts to purchase homes fell in July in New Mexico and across the country, further evidence that the depressed housing market remains a drag on the economy.

The National Association of Realtors said Monday that its index of sales agreements fell 1.3 percent in July to a reading of 89.7.

A reading of 100 is considered healthy by economists. The last time the index reached that level was in April 2010, the final month that buyers could qualify for a federal tax credit.

Full Story from The Albuquerque Journal

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