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Housing Sales Look Up! - This is great news for home sellers

Pending home sales continue to grow.

The week began with September Pending Home Sales coming in UP for the eighth month in a row.

The National Association of Realtors index was UP 6.1% for the month, and UP 21.2% over September a year ago! The index hit 110.1, with 100 equaling the average level of sales contracts in 2001, the first year measured by the index.

It won't be too long before we start to see house prices going back up for most of the country, some markets are starting to see home price on the upswing.

Now is the time to buy before rates go up and house price move up too.

Leo Namiot

Connecticut Mortgage Specialist

www.LeoLends.com

Posted by Connecticut FHA LOANS,CT VA Loans, CHFA CT First Time Home Buyer:CT CHFA Loan on 11/09/2009 07:47 AM

Comments (4)

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4 Comments on Housing Sales Look Up! - This is great news for home sellers

NOV

Leo: I like the positive message. Thank you! I think it's a little premature to say the recovery is under way. At least out here. Unfortunately I know too many realtors who are barely ekeing out a living at this point. It's better than least year but not by much and I expect 2010 to be pretty slow as well. That being said, the occasional hint of blue sky is nice. 2008 was a year we'd probably rather forget. Thanks again!

Nice post, Leo. Can't wait for the market to make that come back that we are all hoping for. I just don't see it happening in the near few months.

I see the market here starting to catch some wind in it's sails. I think 2010 will finally start to turn around then we have a whole new set of issues with buyers.

"We want to wait until the market goes down!"

NOV

Business has been very steady in southeastern CT throughout the year. House prices don't seem to be moving up just yet but there is activity. That helps.

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