Pending Homes Picking up Steam

By
Real Estate Sales Representative with Castles Unlimited®

In October, pending home sales have picked up steam, showing a 3.5 percent increase in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI), which posted 109.3 in October, an improvement from 105.6 in September, based on contract signings.

 

“Pending home sales benefited from a strong post-hurricane bounce-back in the South in October,” says Danielle Hale, chief economist of realtor.com®. Al but four major US regions saw PHSI increases in October, with the Northeast up to 95 percent, the Midwest up to 105.8 percent, and the South up to 123.6 percent.

 

Though supply has been a on adecline, a forecast by realtor.com suggest there will be an upward trend in 2018.

 

Hale remarks “We expect to see slowing inventory declines into 2018 and an increase in the number of homes for sale in fall. Inventory is expected to recover first among higher-priced homes, so entry-level buyers will continue to face challenges in 2018, but the eventual lift in available homes is expected to push home sales up 2.5 percent next year.”

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
14,153
Fahlman Property Group
Realty ONE Group Preview - Marysville, WA
Real Estate Team Serving Snohomish County

It is an amazing market. We work the northern Seattle market and it is crazy up here.

Dec 04, 2017 01:04 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
498,077

James Lowenstern

Castles Unlimited. Newton MA Real Estate
Ask me a question
*
*
*
*
Spam prevention

Additional Information