Everest Realty

Where it is all about YOU

Lifestyle Florida

Pending Home Sales Flat But Stabilizin​g

March 28th, 2014 | Written by | Leave A Comment

Sale PendingPending home sales are a forward-looking indicator of future existing-home sales based on the number of contracts to buy homes that are signed during the month. In February, contract signings slipped 0.8 percent, according to the National Association of Realtors. Lawrence Yun, NAR’s chief economist, said pending home sales have been little changed over the past three months, which indicates the market is stabilizing. Buyer traffic has increased modestly as the spring selling season begins and there is an expectation that some transactions that were delayed due to winter weather will now close. According to Yun, this suggests that the home sales slowdown may now be behind us. Regionally, the report was a mixed bag. Pending sales were up in the Midwest and West, while falling in the Northeast and South. Overall, contract signings are 10.5 percent below year-before levels.

Leave a Reply