Posted by: Roby Robertson | September 2, 2009

Lake Norman | Pending Homes Sales On The Rise

Lake Norman Real Estate On The Rise

According to the National Associate of Realtors

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1.  The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better.  “The recovery is broad-based across many parts of the country.  Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said.

In the Lake Norman Real Estate area 13, 55 homes went pending from 8/1/2009 to 9/2/2009.
Another 38 went to a status of contingent or conditional.

For the periond 7/1/2009 – 7/31/2009, 17 homes went to pending.
Only 17 went to a status of contingent or conditional.

By these numbers and the NAR report, we can see that pruchases are on the increase and
buyers are beginning to take advantage of the lower prices, interest rates and tax credit.

Read the Entire NAR Report.

See Also: Sulutions Made Easy Tracking and Finding Your Lake Norman Home

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