More Good News From The Pending Home Sales Index

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
https://activerain.com/droplet/kcz

Very recent activity in the Pending Home Sales Index shows signs of positive movement. Remember, when we look at a 365 day trend, it shows the real market activity with seasonality removed (each point on the graph represents one entire year), thus when we observe the market rising, it is not because of the time of year.

The pending home sales graph below shows the 365 day trend analysis of new contracts submitted to the Tallahassee MLS. By measuring new contracts, we get a feel for what is coming over the next few months. If you saw the most recent post on closed home sales, then this report will give you an idea of how it will shake out over the next two months.

Pending Home Sales Graph

The pending home sales graph above shows that things have not been looking so great in the Tallahassee real estate market since the end of the Homebuyer Tax Credit, but recent activity shows positive signs for new contracts. I believe the main problem with the market is that 2/3rds of our traditional buyers come from Tallahassee as sellers first. Since many people are trapped in homes that are worth less than their mortgage, this group of buyers cannot move as they are failing to sell their homes.

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Rainer
72,576
Eileen Covington
The Charlotte Home Team/Keller Williams - Charlotte, NC
(The Charlotte Home Team)

Wow, the tax credit had a big impact.  I hope that interest rates  being so low will have a similar up side.  I think we are seeing some of it happening now. There is so much pent up demand if we can just hang in there we will be in the right place at the right time. 

Sep 25, 2011 11:41 AM #1
Rainmaker
1,162,233
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Eileen, I hope that you are right!

Sep 25, 2011 11:51 AM #2
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Rainmaker
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Joe Manausa

Tallahassee Real Estate
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