Pending
Home Sales Surge:
A pending home sale is simply a signed contract on a home that
has not yet closed. The National Association of Realtors
reported that we continued to see gains in home sales for the
third consecutive month. The index rose 6.0% last month and
22.4% when compared to April 2009. The April increase follows a
7.1% in March and a 8.3% increase in February.
While certainly some of the gain can be attributed to the rush
to get a contract signed prior to the end of the tax credit,
there is definitely underlying demand as consistently low rates
and increased consumer confidence in the housing market has
helped to drive up demand for homes.
Courtesy of
Andrew
Smith
Sente
Mortgage
andrew.smith@sentemortgage.com
June 7, 2010 |
