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Nice Jump Reported in Jupiter Pending Home Sales
 

 
Pending and contingent home sales data are very important metrics when determining how strong real estate sales will be in the months ahead. I like to carefully review this information for each of the communities where I am most active on at least a monthly basis as it gives me a heads up on what the future might bring for my clients. 
 
When a bilateral contract is entered into there are typically contingencies, historically mainly for home inspections and financing, but in today’s world more often that not they are short sales waiting for third party, or bank, approval. Once these contingencies are lifted the change should be properly recorded into the MLS system as “pending”. History  shows us that the large majority of pending listings will ultimately close, usually within the next two months. The volume of both contingent and pending listings is a good leading indicator of what we can expect in closed sales of Jupiter homes in the weeks ahead.
 
Over the past 30 days in Jupiter we have seen a nice increase in pending home sales with 89 on January 15th up from the 82 we had on December 15th. These numbers ... more

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