U.S. Pending Homes Sales Rise for Fifth Consecutive Month

Tampa Florida Real Estate

Tampa, Florida

As a premier Tampa Florida real estate broker our mission is to employ our skills, experience, and values to the benefit of our clients and associates as we provide Real Estate in Every Way: all the real estate property services a buyer, seller, owner, or developer could want or need in Tampa Florida, and all with a unique level of quality and personalization.

Favorite Links

• Twitter

RealTown Blogs

Blogs Homepage

Featured Entries

Site Feed

RSS Feed

U.S. Pending Homes Sales Rise for Fifth Consecutive Month

Posted at Tampa Florida Real Estate by Nibal Elsaadi

Aug. 6, 2009

Tagged with: firsttime home buyers, florida, housing market, inman news, national association of realtors, new home, pending home sales, real estate market, si real estate, tampa

June saw a rise in pending home sales for the fifth straight month, according to the National Association of Realtors. This increase of 3.6 percent to 94.6 is an encouraging sign for the U.S. housing market as it makes its way toward recovery. According to an article by Inman News,the increase in pending home sales marks the first five consecutive months of gains since July 2003.

The largest jump was seen in the South, where pending home sales rose 7.1 percent. All regions saw at least a minimal increase with the smallest seen in the Northeast, as just .4 percent. Almost all regions were significantly higher than in June of 2008.

“Historically low mortgage interest rates, affordable home prices and a large selection are encouraging buyers who’ve been on the sidelines. Activity has been consistently much stronger for lower priced homes.” said Lawrence Yun, NAR chief economist.

Is addition to the increase in pending U.S. home sales, home resales have also risen for three months in a row for the first time in five years. Along with the low prices and attractive mortgage rates, the $8,000 first-time home buyer tax credit has kick-started home sales throughout the Tampa Bay region and U.S. real estate market, overall. Recovery is surely underway and the time to act is now.

Permanent Link | Comments (1) | Write a Comment | Send Link