Pending closings right now is 350 homes. This is up 64.3% since June 2011's 213 pending closings. So many houses are going under contract and not enough sellers are putting their house back on the market because they don't have enough equity in them due to so many of them having bought their house so recently in the past few years.
Housing shortages and high demands drives prices higher which the median price increase in my last blog shows so if you are looking to buy a house, now is the time to buy as selections will be fewer and prices higher as time goes by.
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