National Association Of Realtors Pending Home Sales Report



A glimmer of hope from the just released National Association of Realtors Home sales data?
The number of pending home sales . . .homes not closed but, in process or under contract . . . increased for the month of February. But, even the National Association of REALTORS is being cautiously optimistic about this new data.

The Pending Home Sales Index,* a forward-looking indicator, rose 2.1 percent to 90.8, based on contracts signed in February, from 88.9 in January. The index is 8.2 percent below 98.9 recorded in February 2010. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Biggest increase was with ‘distressed properties’. Distressed properties include short sales, redemption sales, foreclosures and REOs. No surprise there. 
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Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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