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Pending Home Sales in November 2010

Growth in 2011NAR (National Association of Realtors) November statics show four straight months of increases in national pending home sales. (see NAR video below) I have strongly disagreed with Lawrence Yun in the past. He has often been seen as the pollyannaish puppet for the National Association of Realtors and blatantly self-serving, and he was frequently jokingly compared to “Bagdad Bob” during the bubble days. So this is hard for me to say, but I agree with Mr. Yun on his analysis of the relationship between population growth, job creation, and housing demand. Jobs will undoubtedly be the driving force that will creates a sustainable housing recovery. And I applaud him for using statistics to back up his analysis, not just platitudes.