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For Fourth Straight Month, Pending U.S. Home Sales Are Up

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Sam DeBord, "SeattleHome.com"

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Pending home sales in the U.S. continued their upward trend this month.  For the fourth consecutive month, the Pending Home Sales Index rose for residential homes.  This index measures signed contracts on homes for sale.  Low interest rates, more affordable home prices, and first time buyer tax credits are attributed to the increases in homes under contract.

We haven't seen four straight months of gains since late 2004, so this is a very positive trend in real estate sales.  While these transactions may take a bit longer to close with the larger number of short sales and distressed homes, there's no doubt that total closed home sales will rise in the coming months.

Seattle Homes For Sale
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July 01 - Seattle
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BMFPitt

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Spring bump:  Now with more suppressed rates and better bribes.
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July 02
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DebtsNMesses

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Wonder if they're counting all those foreclosed homes banks are bundling up to sell to RE firms to unload. Some of these homes have been sold several times before they even hit the mls after foreclosure.
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July 02
 

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