Pending Homes Sales Rise
October 13, 2008 – 1:08 pmA bit of good news was released last week from the NAR. The National Association of Realtors Pending Home Sales Index rose 7.4 percent in August to 93.4, up from 87.0 in July. This index is a measure of homes under contract across the country.
This news ties in with an earlier post on Supply and Demand. This is a sign that demand is rising from the fallen costs and we are now seeing an increase in sales. As sales increase, supplies will drop and this will have a positive effect on home prices. It’s interesting to note that these stats were for August and that September’s figures will be a good indication of where the market it headed.
