Nice to hear things are on the rise but we need more homes to go on the market so that the sales continue to rise. They are talking about pending sales here. What about closings? In my market here East of Lake Washington in Bellevue, Issaquah, and Renton even short sales are going pending with back up offers. It's questionable whether these will close. They seem to be taking longer than before. In my opinion, the banks are not in a hurry to get it done since the longer they wait the higher they can ask for the properties. Read this article and watch this video for more...
March Pending Sales Continue to Head Up - National Housing Report
WASHINGTON (April 29, 2013) - Pending home sales increased in March and remain above year-ago levels, but contract activity in recent months shows only modest movement, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 1.5 percent to 105.7 in March from a downwardly revised 104.1 in February, and is 7.0 percent above March 2012 when it was 98.8. Pending sales have been above year-ago levels for the past 23 months; the data reflect contracts but not closings. Lawrence Yun , NAR chief economist, said the market appears to be.... READ MORE and WATCH VIDEO
If you or anyone you know is still sitting on the fence about selling their home, it's time to move on it. How long do you think these prices are continuing up? In my neighborhood, new construction is starting at the low $900s. That mean 1 home, which is currently pending, is being built. Have them call me for a free market analysis.