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NAR Says Worst Is Behind Us ... Do You Believe Dr. Yun This Time?
What can I say, but it's that time of the month again, time for us to review the Pending Home Sales Report from the National Association of REALTORS®.
Historically, this housing report has been a measurement compiled by NAR and then used to proclaim the housing market "stronger than ever," but I suspect the public might be on to the cheer leading efforts of Dr. Yun.
The Pending Home Sales Report is a forward-looking report, as it measures the number of contracts in the MLS, not actual real estate closings. But we know that future sales will likely be a subset of those current contracts.
Based upon what they are seeing at the national level (click here to view the US Pending Home Sales Report), the 2012 has started off so well that Lawrence Yun, Chief Economist for NAR, has reported that 2012 is the first year of the recovery.
Pending Home Sales Report Video If you watch the video (below) that was included with this month's Pending Home Sales Report, you will find a less than thorough examination of the existing inventory of homes for sale, as well as the shadow inventory of homes.
See how Dr. Yun (in video, ... more
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