Pending Home Sales Stable March 25, 2010
Pending home sales have stabilized in the Tallahassee real estate market. The 365 day trend of pending home sales is monitored daily by the best real estate agents in the Tallahassee housing market as a barometer of current and future market movements.
In the real estate graph below, we can see both the fall of pending home sales (reaching a market bottom in mid July of 2009) as well as the rise from the bottom of the housing market. We may have hit a plateau a few weeks ago, but time will tell.
A pending home sale is a property in which a buyer and seller have agreed to terms, and is currently in the due diligence stage of the transactions. Many of these that are recorded never turn into a real home sale, but a good percentage of them do. That is why the measurement of pending home sales gives us a forward looking perspective on what should occur in the next 30 to 60 days in closed home sales.
The pending home sales graph above indicates that the number of homes that are selling in Tallahassee will continue to rise. They key date in the near future will be to sell what happens to this trend after the Homebuyer Tax Credit expires on June 30, 2010. With no extension to be found, we will see if the stimulus was just a short-term assist or if it actually stimulated the recover of a very distressed housing market.
More 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:
- Daily Real Estate Blog (A Technorati Top 100): Tallahassee Real Estate Blog
- Current Housing Reports: Housing Market Reports
- Map Based Property Search Tool: MLS Property Search
- Foreclosure Reports: Lis Pendens and Foreclosures
- List of Distressed Properties in the MLS: Distressed Properties
- REALTOR® news and updates: Successful REALTORS®