Wednesday, November 11, 2009

Real Estate Outlook: Pending Sales Rise

Posted by Lindsey Connell

A record jump in pending home sales -- pointing to higher numbers of closed transactions in the next two to three months -- tops the housing economic news this week.

Pending sales rose by 6.1 percent nationwide during the month of September, pushed in part by consumer concerns that the $8,000 tax credit might expire at the end of the month - and we now know that won't happen.

The pending home sale index, compiled monthly by the National Association of Realtors, was up 21 percent higher this September compared with September of 2008. That's the biggest year-over-year increase in the history of the index, dating back to 2001.

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1 comment:

  1. It is great to see that the Real Estate Market is trying to make a comeback! It has a long way to go before we are back to normal. – David Held