Pending Home Sales is UP! This is Good!

Real Estate Broker/Owner with KTHOMES, LLC 100002367

Pending Sales are up in Jan. 2012, according to the newly released report by NAR (National Association of Realtors). It is the highest it has been since April 2010, which was when the First Time Homebuyer Tax Credit was still in place.

Pending Sales Up

The Northeast area rose 7.6 percent to 78.2 in January, which is 9.8 percent above January 2011.

The Midwest declined 3.8 percent to 88.1 but is 10.8 percent above January 2011.

The South increased 7.7 percent to an index of 109.1 in January and is 10.5 percent above 2011.

The West fell 4.4 percent in January to 101.9 but is 0.7 percent above January 2011.

So overall, the Pending Home Sales are up 7.2%.  Keep in mind that pending is just that......they are not yet closed deals, but many of them will be.  That will help increase our Existing Home Sales statistics very soon.

The report also states that inventory is on it's way up.  Thank goodness for that.  There just doesn't seem like there is enough out there anymore, at least in the Denver area anyway, from which to choose for potential buyers.

I think this is a positive sign for the real estate market.




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Comments (3)

Laura Allen, Lake Tahoe - Truckee Real Estate for Sale
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Karen and Rhonda - It's good news that real estate pending home sales are up.  Hopefully the national market will keep this trend going through out 2012!

Mar 01, 2012 10:30 AM
Linda Holloway
Keller Williams Realty Tampa Central - Tampa, FL
REALTOR®, Your Next Home in Tampa Bay Starts Here!

Hi Karen and Rhonda, It is great news that pending sales are up!  Hopefully, these pending sales will become closed transactions.  Enjoy your day!

Mar 01, 2012 09:57 PM
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

Karen - The Northern Virginia market is part of that increase for the Southern portion of the US.  We are experiencing a shortage of quality listings across most price points and as soon as a good listing comes on, there is a good chance of multiple offers.

Mar 02, 2012 11:32 AM