Pending Home Sales Rise For 3rd Straight Month
Buyers are writing contracts at a furious pace nationwide.
On a seasonally-adjusted basis, the Pending Home Sales Index rose 2 percent last month to reach its highest level since March.
A “pending home sale” is a home under contract to sell, but not yet closed.
The forward-looking Pending Home Sales Index is up 11 percent from its low of the year, according to the National Association of REALTORS®, and well ahead of its rolling 6-month average.
Unfortunately, national data isn’t always helpful for buyers and sellers in Leominster and nationwide. To help make data more relevant, therefore, the official Pending Home Sales Index report includes a region-by-region breakdown.
Between May and June 2011, results were mixed:
- Northeast Region: -0.4%
- Midwest Region : -3.7%
- South Region : +4.4%
- West Region : +6.4%
However, even the value of regional data may be dubious. (more…)