Pending home sales have increased for seven straight months ….
“Inaction saps the vigor of the mind.”
Leonardo da Vinci
Monday, October 12, 2009
By Rob Zwemmer www.DesertRealEstatePrices.com
Good Monday Morning
82°F | 52°F
Pending home sales have increased for seven straight months ….
Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors report issued this past month.
The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are closing more slowly because of delays related to short sale sales, and issues regarding complex new appraisal rules.
And of course, the first time buyer tax credit ends at the end of November…and there is no doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which will most likely boost sales and closings before the end of the year even higher.
But as we enter our last quarter, if history repeats itself, housing demands will start to decline in the autumn as seasonal factors influencing market demand, such as cold weather and the Holidays.
So it is imperative that both buyers and sellers be aware of the advantages and disadvantages they need to navigate as we head into the fall of this calendar year.
I am also expecting a grow of Canadian home buyers this fall , with the Canadian dollar almost at par. A lot of Canadian residents who missed the boat last time, will not miss the opportunity this time!
1 Canadian dollar = 0.968429 U.S. dollars
E-mail me with any questions you might have
Have An Awesome Week!
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