Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, increased 0.1 percent to 90.7 from an upwardly revised reading of 90.6 in April, and is 6.7 percent higher than May 2008 when it was 85.0. The last time there were four consecutive monthly gains was in October 2004.
Lawrence Yun, NAR chief economist, cautions that there could be delays in the number of contracts that go to closing. "Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions," he said. "Rises in contract activity show buyers are becoming more active even as they face much more stringent loan underwriting standards. Speedy clarification of the appraisal rules could smooth a housing market recovery and support the overall economy."
Let's take a look at the June sales statistics to see how the Greenville NC real estate market looks:
Greenville NC real estate sales statistics for June show pending sales decreased by 6% compared to June 2008. The average sales price decreased by 8% to $187,581 while sold listings were down 13% from 2008. Market times increased by 36 days or 31% from 2008.
|
Date |
New |
Pending |
Sold |
Average |
DOM |
|
June 2009 |
110 |
73 |
87 |
$187,581 |
117 |
|
June 2008 |
139 |
78 |
76 |
$204,828 |
81 |
Don't forget the clock is ticking to use the $8,000 first time home buyer tax credit. Give us a call to make your dream home a reality!!
Learn more about the Greenville NC real estate market by visiting our websites, LizFreeman.com and LizFreemanHomes.com.
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Information is provided by the Greenville Multiple Listing Service and is deemed accurate but not guaranteed.
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