Pending Home Sales Up 7.4 Percent, 18.4 Percent in West
October 8th, 2008 • Related • Filed Under
This is good news as the combination of lower prices, low interest rates, and pent up demand may be coming to a head.
Pending homes sales in a report issued by the National Association of Realtors are up 7.4 percent in August compared to July, 2008. The numbers are up 8.8 percent over August, 2007.
While it is not time to crack open the champagne bottles, it is a sign that consumer demand and pricing are finding an equilibrium. Now we need to hope that the other external forces in the economy do not drag down the momentum that seems to have been built.
But after the meltdown on Wall Street does real estate look like the better investment now?
Pending home sales for August rose in all four of the regions tracked by the NAR.Gains amounted to 18.4% in the West, 8.4% in the Northeast, 3.6% in the Midwest and 2.3% in the South.July’s pending home sales index was revised to a decline of 2.7% from a prior estimate of a 3.2% decrease.NAR says pending home-sales activity rose because of buyers taking advantage of low prices and affordable interest rates. August’s results show an “unleashing of pent-up demand” before the credit crisis worsened in September, Yun said. via Marketwatch
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
My cousin in Maryland going thru same thing as Jack Thomas. Have loan Mod Agreement from Countywide dated April 2009, ...
Print Ads is the popular way to advertise among seniors in the business industry but today it seems like it ...
Comment by Michael Acord on 8 October 2008:
Its always going to be a better investment than stocks for those who know how to buy it. Any fool can ride the appreciation wave but one day that wave will hit the shore.
Comment by SM on 8 October 2008:
Don’t buy out of your means and you will be able to survive. The problem with many homeowners now is that they bought way outside of their means and are now paying for it.
Comment by Jennifer in Louisville on 10 October 2008:
I think real estate is generally a more secure investment because its has a physicality to it. You can actually walk on, touch it, feel it, and live in the home that you purchased. So even if you are living in a depressed real estate market, you still have something to show for the money that you are paying out each month.
Pingback by Home Sales Are Up in Some Areas : Real Estate Industry Watch on 10 October 2008:
[...] bit of good news that not everything in the real estate world is negative. Home sales are up in some areas. Overall, if you compare August 2008 to July 2008, pending home sales have increased 7.4%. And [...]