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Pending Home Sales Increased in July

The National Association of Realtors reported pending home sales increased in July. The Northeast region increased by 6.2%. The report also provided some bad news as well.

First, the homeownership rate for young adults, 35 years old or younger, is at an all time low for this decade. Second, what has help fueled the housing market, low interest rates, may come to an end in the near future as the Federal Reserve is likely increase rates.