Good News On The Real Estate Front – Pending Sales Are Rising
by The Real Estate Briefings Blog
The real estate markets are on the rise a little bit. Pending home sales are rising by more than 7%. This is the highest it’s been in 19 months, according to the National Association of Realtors. NAR Chief Economist Lawrence Yun states:
“Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high. Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage.”
This is very good news for the markets. Part of the reason is the job market. It has finally fell below 9% which means there are more people finding jobs right now. That coupled with the recent holiday sales and consumer confidence is getting the real estate industry pointed in the right direction.
The biggest gain was seen in the Northeast with an 8.1% increase. They are still 0.3% below last year, but this increase has really boosted them.
It is a buyers market right now with all the available housing in conjunction with low interest rates. Home values have fallen as well, leading everything to an excellent market for potential buyers. Even investors can get in on the good deals and be able to recoup in no time.
Now is a good time to visit with area real estate agents to find out just what is available for you. There is certainly going to be something that will work for you.
