Housing Market Recovery

December 3rd, 2010 - by Judi Desiderio
Filed under: Business, National Housing Market, Real Estate, town & country real estate

NAR, or National Association of Realtors, just released their October report for pending home sales. Pending home sales are considered fully executed contracts to buy homes.

Here in the Northeast, a remarkable 19.6% increase in signing is a clear indicator the housing market is well on its way to a recovery.

NAR said the index of sales agreements for previously occupied homes nationally rose a health 10.4%. Areas in the west brought the National numbers down via declines in pending sales.

Considering the time it takes for contracts to close and closing to be recorded, this activity will be evident in the 4th Q 2010 and 1st Q 2011, as there is a 60-90 day lag period.

Judging by the increased activity in all 8 Town & Country offices at this time I can say with confidence 1st Q 2011 will be a very good one!

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