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Pending Home Sales are at the Highest Level Since March 2007

Pending Home Sales are at the Highest Level Since March 2007. Short Sales and Complex Appraisals are causing delays in home sales.

County	# of Pending Sales	# of Pending Short Sales	% of Total Pending Sales	# of Short Sales Pending 100 + Days	% of Short Sales Pending 100+ Days
Cook	5689	1058	19%	700	66%
Lake	1039	221	21%	169	76%
Dupage	1169	205	18%	169	82%
Mchenry	578	156	27%	116	74%
Will	1116	156	14%	136	87%
Kane	820	169	21%	135	80%

Summary:
Short Sales represent 14%-27% of all Pending Sales in all five counties.

66%-87% of all Short Sales are taking 100+ days to close.

Posted by Jack Lewitz on 10/01/2009 10:32 AM

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Pending Home Sales Report in the Real Estate Market Channel

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Post is included in group: Short Sale REALTORS®
Post is included in group: REO
Post is included in group: Market Updates

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