daytrades nov 5 afternoon, page-131

reits


cer got a start this week

us property report tonight should give a clue to next direction in reits. if up again then will be third month of gains.


http://finance.yahoo.com/news/Ahead-of-the-Bell-Pending-apf-143569156.html?x=0

Ahead of the Bell: Pending Home Sales
Pending home sales expected to show another increase in September


ShareretweetEmailPrintOn Friday November 5, 2010, 7:00 am
WASHINGTON (AP) -- The number of people who signed contracts to buy homes is expected to increase in September for the third consecutive month.

Economists from Barclays Capital forecast an increase in pending home sales of 3.5 percent for September. The report will be released at 12:30 p.m. EDT by the National Association of Realtors.

An increase of 3.5 percent would follow gains of 4.3 percent in August and 4.5 percent in July.

The rise in August pushed the Realtors' index of sales agreements for previously occupied homes to 82.3. That's still more than 20 percent below the pace in the same month a year ago.

The index provides an early measurement of sales activity because there is usually a one- to two-month lag between a sales contract and a completed deal.

A reading of 100 indicates the average level of sales activity in 2001, when the index started.

The index sank during the 2007-2009 recession, which was triggered by a severe bust in housing.

It reached above 100 a year ago when the government first offered home buyers tax incentives to spur sales, but it sank after those tax credits expired in April and has only begun to recover in recent months.

Despite the lowest mortgage rates in decades, high unemployment and weak job growth have hurt the housing market.