Window Of Opportunity - Spring Looks Bright
Posted by Breckenridge Associates Real Estate on
National pending home sales were down slightly in February, but remain notably above the pattern in the first half of last year, according to the National Association of REALTORS® (NAR). The Pending Home Sales Index, a forward-looking indicator based on contract signings, eased 0.5 percent to 96.5 in February from 97.0 in January but is 9.2 percent above February 2011 when it was 88.4. The data reflects contracts but not closings.
Lawrence Yun, NAR chief economist, says we’re seeing the continuation of a higher sales pattern due to an elevated number of sales contracts so far this year. “If activity is sustained near present levels, existing-home sales will see their best performance in five years. Based on all of the factors in the current market,…
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