Pending Home Sales Jump More Than Expected in January
The National Association of Realtors today announced that pending home sales across the country rose more than expected between December 2011 and January 2012. The pending sales index measures homes that have gone under contract but not yet closed and so can’t be considered sold.
Month over month, the index rose 2 percent, exceeding analyst expectations, and a nice bump after a 1.9 percent decrease between November and December 2011. Pending sales increased 8 percent between January 2011 and last month.
NAR Chief Economist Lawrence Yun on the news:
“Given more favorable housing market conditions, the trend in contract activity implies we are on track for a more meaningful sales gain this year. With a sustained downtrend in unsold inventory, this would bring about a broad price stabilization or even modest national price growth, of course with local variations.”
While positive news, today’s numbers can really be considered “good” if these pending contracts are converted to closed sales.
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_jump_more_than_expected_in_january/5205.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
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