Pending Home Sales Continue To Improve

Posted by Joe Manausa on Monday, March 15th, 2010 at 12:54pm.

Pending home sales are the list of homes that are under contract and waiting for closing, and this list is growing in the Tallahassee housing market.

The most obvious way to predict future home sales would be to take a look at the list of homes that are under contract and waiting for closing. These are what we refer to as “Pending Home Sales” and we can track them on a daily basis in the Tallahassee MLS.

The real estate graph below shows that the number of pending home sales is climbing up from the bottom found in mid July. It is exciting to see this growth after years of steady declines.

Pending Home Sales Graph

This graph is the one-year trend of pending home sales, so the changes that we see are not due to any annual seasonality in any way (every point on the graph contains a full 365 days worth of information).

With the tax credit continuing through June and expanded for all home buyers with contracts through April, I suspect that we will see at least a continuation of the level that we are at (and possibly a steady increase like we’ve seen over the past seven months). The real evaluation of the housing market recovery will begin in July, when the Homebuyer Tax Credit is no longer part of the solution.

Tallahassee Real Estate Resources

Do you want to know more about the Tallahassee real estate market? It is not as hard as you might think keeping up with the movements in the housing market, you just have to know where to look. The following are some of the best resources that you can find on Tallahassee real estate:

Joe Manausa, MBA is a 26 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.

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