Today NAR released that the pending home sales index was down 1.9% in February. While Thompson analysts were expecting a better reading, I am not overly concerned with this number. To me this is another Real Estate is local story...
Is a 1.9% decline really all that terrible with the state of some housing markets? We all know Real Estate is local and there are some really week markets in the U.S. that I am sure are really hurting the average pending home sales on a national level.
We have been very fortunate in Overland Park to not see the kind of slow downs as other markets in the US. Things have actually remained fairlyy steady despite the increase in inventory. The activity in Overland Park has seemed to pick up significantly in the past month as well and a lot of that activity is going to generate pending sales that will be showing up in later months.
On a national level who knows, but on a local level, iindicators are showing me this is going to be a good spring for Overland Park Real Estate.
You can read the entire press release here.
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