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Tight Credit, Continued Recession Stunt Pending Home Sales 

Nov 07, 2008By

After surging in August, pending home sales swung into a decline based on contracts signed during September, according to a report released Friday by the National Association of Realtors. The pending home sale index – which measures sales based on offers accepted by sellers although no deal has yet closed – declined 4.6 percent to 89.2 from the upwardly revised reading of 93.5 taken in August.

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