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Pending Home Sales Up

Pending Home Sales Continue to Rise

Pending home sales rebounded in July and have now risen in four of the last five months, according to the National Association of Realtors®. All major regions experienced healthy gains except for the Midwest, which saw a slight decline.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, climbed 3.3 percent to 105.9 in July from 102.5 in June, but is still 2.1 percent below July 2013. The index is at its highest level since August 2013 and is above 100 – considered an average level of contract activity – for the third consecutive month.

Lawrence Yun, NAR chief economist, says favorable housing conditions are behind July’s higher contract activity. “Interest rates are lower than they were a year ago, price growth continues to moderate and total housing inventory is at its highest level since August 20121,” he said. “The increase in the number of new and existing homes for sale is creating less competition and is giving prospective buyers more time to review their options before submitting an offer.”

Technology and Social Media

Seattle Real Estate Brokerage Adopts 3D Technologies

Most homebuyers know that a few pictures on a real estate site can be quite deceiving in accurately capturing an entire home. Imperfections like scratches on counter tops or [...] Continue Reading…

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National Home Prices Slowdown

Data through June 2014, released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show a sustained slowdown in price [...] Continue Reading…

New Home Sales Down

New Home Sales Fall in July

Sales of new single-family houses in July 2014 were at a seasonally adjusted annual rate of 412,000, according to estimates released jointly by the U.S. Census Bureau and the [...] Continue Reading…

Savvy Home Buyer

Do You Need to Upgrade Your Home Insurance Policy?

This year when you receive your annual home insurance renewal policy you may want to consider  if you have had any life changes that could impact your policy. You [...] Continue Reading…