Pending home sales in February zoomed to their highest level in seven months, paving the way for a robust spring. All major regions of the U.S. saw notable gains in contract activity last month, except for the Northeast, according to the National Association of REALTORS®’ latest home sales report.
NAR’s Pending Home Sales Index – a forward-looking indicator is based on contract signings – jumped 3.5 percent to a reading of 109.1 in February. It is 0.7 percent above a year ago.
“After some volatility this winter, the latest data is encouraging in that a decent number of buyers signed contracts last month, lured by mortgage rates dipping to their lowest levels in nearly a year and a modest, seasonal uptick in inventory,” says Lawrence Yun, NAR’s chief economist. “Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau.”
Author:Victor DeFrisco Phone: 561-951-3759 Dated: March 28th 2016 Views: 124 About Victor: ...
View our latest blog posts in your RSS reader. Click here to access.
We are a full service real estate brokerage with over 100 agents to serve you. Let us be your real estate resource. Regardless whether you need to buy or sell now, or sometime in the future, let us help you. We are no pressure and will always try and help. Contact us at 561-792-3948 now.
"Thu, May 19, 2016
Joseph Schneider went above and beyond the capacity of a realtor. He facilitated in making the process of us purchasing our first home less stressful because of his knowledge and experience. Joseph made sure that every aspect of our transaction was handled in a professional and timely manner. Whatever we asked for in our search for the perfect home, he made sure that he did his due diligence. Joseph was referred to us and we would most definitely refer him to anyone who is looking to purchase or sell a home."