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CNBC and Housing Analysts are Stating that Home Prices May Have Bottomed (On Average Nationally) as Pending Home Sales Figure Increases, and Other Housing Data is Positive
CNBC and Housing Analysts are Stating that Home Prices May Have Bottomed (On Average Nationally) as Pending Home Sales Figure Increases, and Other Housing Data is Positive
The number of Americans signing contracts to buy previously owned homes rose more than forecast in November.
Falling prices and low borrowing costs boosted demand.
Buyer Broker Chicagoland client pending sales were of course part of that figure!
The index of pending home sales increased 7.3 percent to the highest level since April 2010.  Economists had forecast a 1.5 percent gain.
It had gone up 10.4 percent the prior month. 
Housing is showing signs of stabilizing as construction picks up, builder confidence improves and the number of houses on the market declines.
It appears buyers are becoming more confident and are attracted to record-low mortgage rates.
All four regions showed an increase in contract signings from a month earlier, led by a 14.9 percent surge in the West and an 8.1 percent jump in the Northeast. Pending sales climbed 4.3 percent in the South and 3.3 percent in the Midwest.
Home Affordability is Better Than Ever!
Today’s report showed an index level for pending home sales of 100.1 on a seasonally adjusted basis. A ... more

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