Home sales appear headed for a mid-summer breather. One month after posting a multi-year high, the Pending Home Sales Index retreated to 99.3 in June -- a strong reading in its own right. A "pending home sale" is a home that is under contract to sell, but not yet sold. June's value of 99.3 marks the 14th consecutive month during which the index showed year-to-year gains. Last year in June, the index read 90.7. For home buyers in Phoenix and nationwide, the 14-month winning streak is one worth noting -- specifically because the Pending Home Sales Index is different from the other housing … [Read more...]