On the surface, May's Pending Home Sales Index looks terrible for housing. And, if you're a seller, it just might be. But, if you're a buyer, the story reads differently. Just consider the market conditions.
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On the surface, May's Pending Home Sales Index looks terrible for housing. And, if you're a seller, it just might be. But, if you're a buyer, the story reads differently. Just consider the market conditions.
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April marks the third straight month that pending home sales are up and today's buyers should take note. This is because, according to the National Association of Realtors®, 80% of homes under contract close within 60 days.
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According to the National Association of Realtors®, although the number of homes sold ticked higher in April, so did the supply of existing homes for sale, too. Sellers are now listing homes faster than buyers can buy them.
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Today's home buyers should consider making offer sooner rather than later. Looking at the data, it appears the best time to have found a "deal" on a home may have been in February.
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As expected, the Pending Home Sales shot higher in February, boosted by the federal home buyer tax credit's April 30 deadline.
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Fewer homes went under contract in January as the housing market continues to limp through the winter months. According to the National Association of Realtors®, the Pending Home Sales Index fell to its lowest level in 3 quarters this January. By contrast, in October 2009, the index had touched a 3-year high.
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Using data compiled in December, Standard & Poors released its Case-Shiller Index Tuesday. The report shows home prices down just 2.5% on an annual basis, a figure much lower than the 8.7% annual drop reported after Q3.
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A Pending Home Sale is a home that is under contract to sell, but not yet sold. It's a figure compiled by an industry group using sales data from over 100 regional listing services and more than 60 large brokerages around the country.
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Just one month after touching a 3-year high, the National Association of Realtors® Pending Home Sales index plunged in November. A "pending" home sale is a home that is under contract to sell, but has yet to close. The 16 percent drop marks the first retreat in Pending Home Sales since January of...
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