US: Short Sales Still Climbing

US Short SalesIn my post on the economy in 2012, I questioned whether the fourth or fifth prediction of a “bottom” in housing was accurate. As if to slap me in the face with statistics, a report today showed pending home sales at their highest point in a year and a half. But that only takes us to the middle of 2010, not exactly boom times for the housing market.

In addition, there’s a growing trend of pending sales getting called off at the last minute, which means a lot of these sales will not come to fruition.

What I do think is a genuine trend, and one that’s slightly better than a crush of foreclosures, is theincrease in short sales as an alternative to evictions and repossessions.

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