Sept. pending home sales up a bit

NAR's Pending Home Sales Index up 0.3% for month and 14.5% for year. Stable numbers predicted as market bounces back. fort lauderdale [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
  • October 25 2012 - Rio Vista
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Answers (4)

Profile picture for SteadyState
Slow day?
  • October 25 2012
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Profile picture for Dunes ..
So what has been the average % of "Pendings" that don't close this year?
Who's doing the predicting?
The same RE Experts who have been calling the Bottom since 2007?


Oct. 22, 2012
RealtyTrac: 65% of housing markets worse off than in 2008

"Sixty-five percent of U.S. housing markets studied by RealtyTrac are worse off than they were four years ago, according to the Irvine, Calif.-based real estate research firm. The results of the survey arrive the same day as the final presidential debate and just weeks before the general election.

RealtyTrac measured five key housing metrics in 919 U.S. counties and discovered the majority are still suffering from falling average home prices, unemployment, and higher foreclosure inventories, foreclosure starts and distressed sales."

Think we should wait till the end of the year and see just how many "Pendings" actually turned into sales...after we find out how off NARs claims are this year on Sales & Pendings before doing the Happy Dance

  • October 26 2012
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Here is some information I posted on Facebook this morning about the housing market in Anne Arundel County this morning on Facebook:


If you live in Anne Arundel County thought I would share some news about the Real Estate Market. As of Sept in certain price ranges we are having a very serious housing shortage. In the 100-300K market in 2011 we had 1531 houses for sale this year in 2012 we have 884 houses for sale, that is a 42.26 drop in inventory, we only have 2.9 months of inventory on the market, down from 7.4 months in 2011 which equals a sellers market in that price range, for a seller is great news. 301-400K again a sellers market we have only 4.8 months of inventory on the market. if you are looking to move up to somewhere in the price range of 501-700K great time, this is still a buyers market with 10 months of inventory.

Just thought I would let everyone know about my little neck of the woods.
  • October 26 2012
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Profile picture for sunnyview
It will be interesting to see how the extended inventory of higher priced homes from 500-700K influences the prices in the lower tiers if the higher priced inventory needs to be discounted in order to sell. That could create an issue for appraisals and could put pressure on the current the price point for lower priced inventory.
  • October 26 2012
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