Pending Home Sales Reach Highest Level Since April 2010

On Wednesday morning, the National Association of Realtors announced that pending home sales across the country in July rose to their highest level in two years. 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 2.4 percent, but pending sales increased 12.4 percent between July 2011 and last month.
NAR Chief Economist Lawrence Yun on the news:
“While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity. All regions saw monthly increases in home-buying activity except for the West, which is now experiencing an acute inventory shortage.”
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: pending home sales, national association of realtors
This article originally published at http://dc.urbanturf.com/articles/blog/pending_home_sales_reach_highest_level_since_april_2010/5961
Most Popular... This Week • Last 30 Days • Ever

When Johnsie Walsh rented a unit in her Stanton Park apartment building, she had no i... read »

An analysis by UrbanTurf found that there were 15 neighborhoods in DC where the media... read »

The project is the first Rosslyn high-rise that will include affordable units.... read »

Tysons Corner also comes in tenth nationwide in number of apartments built since 2016... read »

This week’s Best New Listings features three one-bedroom units in the Northwest nei... 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. Visit guides.urbanturf.com or 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