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, that’s what we’re expecting with sales rising 7 to 10 percent in 2012,” states Yun.
Read the full RISMedia.com article titled, "Spring Looks Bright: Pending Home Sales Solidly Higher Than Last Year" here.
Please contact us to learn more about real estate in Breckenridge and Summit County, Colorado. 800.774.7970 or 970.453.2200. Click here for the latest news about Breckenridge Real Estate.
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Please contact us to learn more about real estate in Breckenridge and Summit County, Colorado. 800.774.7970 or 970.453.2200. Click here for the latest news about Breckenridge Real Estate.
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