Sellers...It's the Weather I Tell You!

Sellers...It's the Weather I Tell You!

Alas, now, I can back up my statements and explanations for slow appointments in the last couple of weeks to my sellers! It's the weather!

According to the chief economist for the National Association of Realtors, in an article titled, " Pending Sales Down; Severe Weather Impacting Market", pending home sales have decreased with additional declines expected from the recent poor weather conditions. NAR derives information from "The Pending Home Sales Index", which bases the numbers from contracts signed in January, which fell 7.6 percent to 90.4 from an upwardly revised 97.8 in December, but remains 12.3 percent higher than January 2009 when it was 80.5"

Not only were sales down for homes, but all shopping actiivity in many of the large regions of the U.S. So next time your seller says that you are " Making Excuses", then you can point out the article from NAR as they reitterate that the weather impacts housing data positvely and negatively, with the "negative impact being caused by severe and prolonged winter weather activity!"

The good news is that NAR's chief economist expects a surge of existing home sales for the end quarter.

Go to www.dentoncountyhouses.com for a link to this NAR article. Diana Manzato, Denton County Texas Lakefront Property Specialist