Pending Home Sales Continue Rise May 15, 2010
Pending home sales measurements is our favorite way to predict future home sales so we 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 we are climbing up from what could very well be the absolute bottom of the housing market established in mid July. It is exciting to see this growth after years of steady declines, with levels rapidly approaching a two year high!
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).
Join us keeping a close eye on the Pending Home Sales Report at The Market Bulletin.
Great Real Estate Resource Sites
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 realty resources are some of the best that you can find, and they are updated on a regular basis and are worth a book mark for people interested in the changing dynamics of the market.