So I was reading this great article tonight sent to me from the National Association of Realtors and got super excited about the fact that we are making progress now in this market. In NAR's article "pending home sales on a record roll" It is stated that Contract activity for pending home saleshas risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.
This is Great News! The article also states "The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007, when it was 100.7". Also stated is that Affordability is at an all time high"by Lawrence Yun, NAR chief economist. He states that "The housing market momentum has clearly turned for the better and that the recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,"
This is a great article and is packed full of great information that you should definitely take the time to read. You can view this article by clicking on the link below
http://www.realtor.org/RMODaily.nsf/pages/News2009090101?OpenDocument
For more information on the Tallahassee real Estate Market feel free to contact me at 850-591-2599 or you can email me at julie@ringtherivers.com
Julie Cox-Money
850-591-2599
Buyer Specialist
The Rivers Team
Keller Williams Realty
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