What's Hot: Douglas Development Files PUD For Large Warehouse At New City Site Along New York Avenue
Pending Home Sales at Highest Level Since August 2013
✉️ Want to forward this article? Click here.
![Pending Home Sales at Highest Level Since August 2013: Figure 1](https://assets.urbanturf.com/dc/images/blog/2015/01/3741_W.jpg)
A DC home that went under contract in January.
Pending home sales in January reached their highest level since August 2013, according to the National Association of Realtors (NAR). High buyer demand brought the number of pending sales up to an 18-month high, said Lawrence Yun, the NAR’s chief economist.
“Contract activity is convincingly up compared to a year ago despite comparable inventory levels,” he said in a news release. “The difference this year is the positive factors supporting stronger sales, such as slightly improving credit conditions, more jobs and slower price growth.”
Low inventory, which is affecting the DC area, is an issue in many of the nation’s markets, according to the NAR. But pending home sales are still up in every major region except for the midwest. Pending sales rose the most in the south, where they are up 9.7 percent over last January.
The association predicts that home sales in 2015 will be around 5.26 million, up 6.4 percent from last year. It also expects home prices to rise about 5 percent. Last year home sales declined 2.9 percent as prices rose 5.7 percent.
See other articles related to: national association of realtors, pending home sales
This article originally published at https://dc.urbanturf.com/articles/blog/pending_home_sales_at_highest_level_since_august_2013/9583.
Most Popular... This Week • Last 30 Days • Ever
![First-Timer Primer: Tax Relief for DC Homeowners](https://assets.urbanturf.com/dc/images/blog/2013/02/Homestead_Exemption_280.jpg)
When you buy a home in the District, you will have to pay property taxes along with y... read »
![A 127-Unit Luxury Condo Building In The Works For Downtown DC](https://assets.urbanturf.com/dc/images/blog/2024/07/resized/950%203rd%20Street%20Dusk%20EXT_image_560x420.jpg)
The largest condominium building in downtown DC in recent memory is currently under c... read »
![HPO Recommends Approval For 160-Unit Office-To-Residential Conversion in Dupont Circle](https://assets.urbanturf.com/dc/images/blog/2024/06/resized/1201-Conn_image_560x420.jpg)
The plan to convert a Dupont Circle office building into a residential development ap... read »
![Beautifully Constructed Condominium in The Bridge District is Now 50% Sold](https://assets.urbanturf.com/dc/images/blog/2024/07/Riviere%20article/resized/2305%20Nicholson%20St%20SE%20405-0003_image_560x420.jpg)
The Rivière includes just 20 homes located on the eastern banks of the Anacostia Riv... read »
![Monday's Must Reads](https://assets.urbanturf.com/dc/images/blog/2024/07/resized/bubble_image_560x420.jpg)
Why Tyra Banks is serving ice cream in DC; a bike shop/record store opens in Adams Mo... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro