Pending Home Sales Fall 11Percent In The West

Pending Home Sales

pending home sales

The National Association of Realtors® reported today that after reaching a 19-month high, pending home sales eased in December.

Lawrence Yun, NAR chief economist, said the trend line remains positive. “Even with a modest decline, the preceding two months of contract activity are the highest in the past four years outside of the homebuyer tax credit period,” he said. “Contract failures remain an issue, reported by one-third of Realtors® over the past few months, but home buyers are not giving up.” Read more

Pending Home Sales Increase

pending home sales

Pending Home Sales

The national Association of realtors released a report today showing that pending home sales increased by 7.3% in November. the West showed the largest increase for pending home sales of 14.9%. In second place, with an 8.1% increase, was the Northeast. The national pending home sales increase was the largest since April 2010. Read more

Home Sales Jump in October

Home Sales Jump

home sales

The National Association of Realtors® just reported October Pending home sales rose strongly by10.4 percent to 93.3 in October from 84.5 in September and is 9.2 percent above October 2010! Keep in mind that this data reflects contracts but not home closings.

The National Association of Realtors® chief economist, said: “Home sales have been plodding along at a sub-par level while interest rates are hovering at record lows and there is a pent-up demand from buyers who normally would have entered the market in recent years. We hope this is indicates more buyers are taking advantage of the excellent affordability conditions. Many consumers are recognizing that home buyers in the past two years have had one of the lowest default rates in history. Moreover, continued inventory declines are another healthy sign for the housing market.” Read more