Property sales edge up slightly in US but analysts predicts further price falls going into 2011 US s

[Nicholas Wallwork]

Real estate sales in the US rose slightly in August but there are concerns that any rise in mortgage rates could flatten the market again. Analysts also point out that sales are still at an all time low.

Pending home sales rose 4.3% in August compared with July, according to the latest figures from the National Association of Realtors. The index, which is based on contracts signed, was 82.3 for the month, up from a downwardly revised 78.9 for July, yet 20.1% lower than a reading of 103 a year earlier.

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