November 5, 2010 / 4:32 PM / in 9 years

REFILE-US Sept pending home sales fall 1.8 pct--NAR

 (Refiles to remove extraneous word "percent" in second
paragraph)
 WASHINGTON, Nov 5 (Reuters) - Pending sales of previously
owned U.S. homes fell unexpectedly in September, a report
showed on Friday, and activity may remain volatile for months
as troubles with foreclosures disrupt the market.
 The National Association of Realtors said its Pending Home
Sales Index, based on contracts signed in September, fell 1.8
percent to 80.9 from an upwardly revised 82.4 in August.
 Economists polled by Reuters had expected a 3 percent
rise.
 The data reflects home sales contracts, not closings, and
is seen as a leading indicator of housing market trends.
 "Existing home sales have shown some improvement but the
foreclosure moratorium is likely to cause some disruption and
contribute to an uneven sales performance in the months ahead,"
NAR chief economist Lawrence Yun said in a statement.
 Several major U.S. mortgage lenders temporarily halted
foreclosures in October as attorneys general in all 50 states
investigated whether banks had submitted faulty paperwork to
back evictions.
 (Reporting by Emily Kaiser; Editing by Andrea Ricci)


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