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Real Estate Chart of the Day
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The Pending Home Sales Index crossed 100; Unemployment Rates are dropping; Existing Homes are rising.
The number of homes going under contract remains high. Housing is building momentum that will difficult to stop.
The real estate opener "How is the market?" is best answered using the Pending Home Sales Index. Well, according to the current Pending Home Sales Index reading, 2012 will be characterized by consistent, steady growth. The market has shifted to sellers.
Maybe low rates matter after all. After months of near-4 percent mortgage rates, a bevy of housing data all points to the same conclusion -- the housing market recovery is underway.
Despite low mortgage rates, home sales are slowing nationwide. Here's what buyers and seller should watch for.
Buyers market this fall? After 3 straight months of gains, the Pending Home Sales Index slipped 1 percent in July. Contract cancellations are up, too.
Hurt by foul weather and a soft market, the Pending Home Sales Index plunged 12 percent in April. Buyers can expect a terrific summer market.
When the home buyer credit faced its last expiration in November 2009, we saw a pattern of buyers rushing to beat the deadline. There's no reason to expect that won't happen again. And as it does, Pending Home Sales should continue to climb. Average home sale prices should rise.
The Pending Home Sales Index rose in March 2009 for the second straight month. This may be a precursor to strong home sales data in April and May.
