Riddle me this: How can home sales grow when we have no homes to buy?When a monthly home sales print fails to meet expectations the excuse often used is that inventory is too low to meet the demand.
Pending Home Sales Up For First Time In Nine Months
The National Association of Realtors’ indexof pending home sales, which is based on contract signings, rose 3.4 points to 97.4 in March. That’s still nearly 8 points below where it was a year earlier, however.
Pending home sales are strongest in the South, where the index gained 5.6 points to hit 112.7, and weakest in the Northeast, which rose by only 1.4 points to 78.8. A score of 100 is equal to the average level of contract activity in 2001.
Lawrence Yun, chief economist for theNational Association of Realtors, said the index’s increase was due to the end of “a dismal winter.” Read More Here...
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....
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