Here’s an encouraging article about the housing market from our latest Orcas Island (San Juan Islands of Washington State) Home Inspection eNewsletter! If you’d like to subscribe (FREE!) and get great tips and advice, please email (tim@allislandsinspections.com) or follow us at one of the social platform links below!
NEWS
Pending home sales bounced back in May, matching the highest level in the past two years, and are well above year-ago levels, according to the National Association of Realtors®. Both monthly and annual gains were seen in every region. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 5.9 percent to 101.1 in May from 95.5 in April and is 13.3 percent above May 2011 when it was 89.2. The data reflect contracts but not closings. Lawrence Yun, NAR chief economist, said, "The housing market is clearly superior this year compared with the past four years. The latest increase in home contract signings marks 13 consecutive months of year-over-year gains," he said. "Actual closings for existing-home sales have been notably higher since the beginning of the year and we're on track to see a 9 to 10 percent improvement in total sales for 2012."
Tim M. Hance
Board Certified Master Home Inspector / “Inspected Once, Inspected Right!”
All Islands Home Inspections
(360) 298-1163
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All Islands Home Inspections services all of Orcas Island, including Eastsound, Olga, Deer Harbor, and the town of Orcas. We also service all of San Juan County together with the greater Pacific Northwest including the counties of Skagit, Island, Whatcom, and Snohomish.
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