You need to read the "fine print" and learn how this affects your own market area. The same report that indicated that nationally, the pending home sales in December (which represents contracts signed in December) was up just over 6%. However, in the Northeast, which is my neck of the woods, there was a decline of just over 1%. This is likely tied to the increased unemployment in New York City, which is a huge indicator of how our prices here in NJ will fare.
What does this mean to you??? It means you really need to consult with your local, trusted, real estate professional for market statistics and knowledge, so you can make an offer that is in line with what your market will bear, and if you are selling, you can price your home ahead of the curve, and get it sold, while your neighbors are sitting on the market. Check back soon for more market updates!
Thanks for Reading!