Friday, July 03, 2009
Pendings Continue to Push Markets Higher
According to the National Association of Realtors®, pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity.
The Pending Home Sales Index in the Northeast rose 3.1 percent to 80.9 in May and is 6.8 percent above a year ago. The last time there were 4 consecutive monthly gains was in October 2004.
In our Little Falls office, we're also seeing closings in May and June approaching the highest levels in recent years.