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Market Alert: Pending Real Estate Sales Increase!
Market Alert: Pending Real Estate Sales Increase!

Friday, March 2, 2012

The National Association of Realtors has announced that pending home sales have risen by 8% in January from January of 2011.  A pending sale is defined as a home under contract for sale. Pending home sales figures are a direct indicator of future closings and are also an excellent sign for the real estate recovery. The Southern region in particular witnessed an increase of 10.5%, the second highest increase in the US. Many buyers are taking advantage of the legislation making home buying more affordable and it is a wonderful time to invest.

In the past, the movement of these figures have been uneven due to credit immobility however there have been gains in jobs and increased affordability, which have made it easier for home buyers to purchase. Further, rents have increased and the inventory has declined, showing signs of a sustained real estate recovery. A recovery will mean less homeowners in distress and median home price increases. This is wonderful news for home sellers, and buyers should take advantage of this time to buy, because prices will only increase from here! For more information please contact me directly. realtor@joannedwards.com

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