Pending Home Sales Index Shot Up 35

Pending Home Sales Index Shot Up 35

Many of us in the housing market know exactly the feeling the legendary hitter was talking about. Last week we got a nice peak at what the spring home buying season may bring us and it was promising.The Pending Home Sales index shot up 3.5% in February, reaching its highest level in seven months. That level is 0.7% ahead of where it was a year ago, and that's 18 months in a row of year-over year gains.This National Association of Realtors (NAR) gauge of contracts signed on existing homes presages future sales. The NAR's chief economist observed, "after some volatility this winter, the latest data is encouraging."

The chief economist for elaborated: "Given the level of pent-up demand evident in web activity and stated buyer intentions...we should see this spring materialize as the busiest season of sales since 2006."Meanwhile, home prices continue to rise, up 5.7% year-over-year in January, according the the S&P/Case-Shiller Home Price Index for 20 major metropolitan areas. Hopefully, these price gains will bring more sellers to market and encourage buyers that purchasing a home is a good hedge against inflation. We are seeing more buyer activity nationally, as the Mortgage Bankers Association' purchase applications index was up 2% for the week ending March 25.

Victor DeFrisco Headshot
Phone: 561-951-3759
Dated: April 7th 2016
Views: 169
About Victor: ...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Sep 23 2018 58263 2 - Home Flips Plunge as
Sep 23 2018 58263 1 - Sellers who inherited a house have
Sep 23 2018 51565 1 - OPEN HOUSE TODAY 1-3PM 8186
Sep 23 2018 60188 2 - Decorating Tricks for Hiding

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Exit Realty Premier Elite
8961 Hypoluxo Road
Lake Worth, FL

Other Locations