Homebuyer optimism dodges reality

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Is there too much excitement about the recent gains in the housing market? Can the jump in sales figures this past summer truly be sustained? Some of the nation's foremost housing experts question some national data and trends and are wary about the number of adjustable-rate mortgages (ARMs) that are scheduled to adjust in the next nine months. On the surface, the outlook heading into the colder months appears to be looking up, giving real estate salespeople and industry service providers a small measure of relief and confidence. The National Association of Realtors' Pending Home Sales Index in September was up for the eighth month in a row, reaching its highest level since December 2006. Another one of the nation's most popular gauges, the Case-Shiller Home Price Index, which follows home prices in 10 of the nation's major cities, sharply changed direction between April and July after being down considerably between January and April. The gauge, which can be viewed as a h...