WHAT?!? Home Sales/Home Prices UP in June & July??? Pending Home Sales ROSE? Is that a New Flower...?

By
Real Estate Broker/Owner with Real World Properties, Inc.| Your Real Estate Consultant for Life

Ok, I admit it--I am known as a "PollyAnna"...glass-half-full, yes I am one of the happy fluffy people.  That does, not, however, mean that I stick my head in the sand, ignore the obvious, or persistently dive head-first into the you-know-what!

The fact is, a big part of my business for the past year has been providing BPOs to banks--which means I have a bird's eye view (not to mention a trusted source of market info) of my local market--and I will tell you what I've been telling my clients, customers, and friends for the past 6 months: 

The Market in Tampa Bay IS Stabilizing

And now we have National statistics to back up my local assessment--we are long past any false upticks due to the homebuyer tax credit by now, and yet:

Home prices up 1% in June

WASHINGTON (AP) - Sept. 1, 2010

and:

Pending home sales rise

WASHINGTON - Sept. 2, 2010

The first reports home price increases due to the tax credit: 

"The Standard & Poor's/Case-Shiller 20-city home price index posted a 1 percent increase in June from May and was up 4.2 percent from a year ago. Home prices nationally were up 4.8 percent in the second quarter compared with the first quarter, largely due to government tax credits of up to $8,000 that caused sales to surge."

Whereas, for future homes sales, a look at those which are pending would be the best indicator of future trends:

The Pending Home Sales Index (PHSI), a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June; it's 19.1 percent below July 2009 when it was 98.1. Pending sales data reflects contracts and not closings, which normally occur with a lag time of one or two months.

This is exactly the data which I've been reporting--that for the past 6 months, since the tax credit expired, home sales have been stable and rising, on a neighborhood-by-neighborhood basis.  Some neighborhoods are still rocky, other have been INcreasing in value for the past 12 months.

Email me and I'll be happy to look at YOUR neighborhood!

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Topic:
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Location:
Florida Pinellas County Palm Harbor
Groups:
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Rainmaker
604,599
Cyndee Haydon
Charles Rutenberg Realty - Clearwater, FL
727-710-8035 Clearwater, Beach Short Sales Luxury Condos &Homes

Loretta, We can hope so can't we - I'm hoping for no more bad news - No bank bailouts, oil spills, etc. and everything will keep going well! Hope all is well with you - love your great sunglasses - must be the bright future you've got girl!

Sep 02, 2010 08:08 AM #1
Rainmaker
78,333
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

don't look now--there was another oil platform explosion...but this too shall pass, yes?  I'm looking forward to visitng N'awlins next month, and the birth of my great-nephew and grandson!  what could be brighter than that?!  ;^)

Sep 02, 2010 08:16 AM #2
Ambassador
809,468
ASHEVILLE REALTY REFERRAL RESOURCE 828-776-0779
REAL ESTATE REFERRAL NETWORK - Asheville, NC
CONTACT janeAnne365@gmail.com

Loretta`

Here in Asheville, I, like you, have a "sense" that the energy is changing in a positive way...

Sep 02, 2010 04:37 PM #3
Rainmaker
78,333
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

Are you having as hard a time as I am convincing others of this, janeAnne?  Sheesh...going to do some more stats...

Sep 03, 2010 03:03 AM #4
Rainmaker
78,333
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!
Sep 06, 2010 08:57 AM #5
Rainmaker
130,276
Marie Haydock
Evergreen Global Homes & Land | RSVP Real Estate - Redmond, WA
Simplifying Real Estate

1% never looked so good!  Thanks for sharing Loretta.

Sep 14, 2010 08:36 PM #6
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Rainmaker
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Loretta Buckner

Your GREEN Real Estate Consultant For Life!
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