Pending sale up in the west!
To bits of good news-
1- The Az Republic had a front page article about how foreclosures are down month to month and hopefully this will be the new trend for a while!
2- A National Association of Realtors index that gauges pending sale of resale homes dropped 1 percent in October compared to the same month last year.
Regionally, the Pending Home Sales Index — which is based on contracts signed for transactions that have not yet closed — rose 17.4 percent in the West while falling 14.1 percent in the Northeast, 6.8 percent in the Midwest, and 2.9 percent in the South year-over-year in October, NAR reported.
The national index stood at 88.9 in October — an index score of 100 is equal to the average level of contract activity during 2001, which was the first year examined for the index. The PHSI hit a low of 83 in March and an annual high of 93.5 in August.
Are we at the bottom yet? I can’t say that but most of us are seeing more buyers coming forward and some areas have already started a small (real small) climb in resale prices. if you want more specicif information please give me a call at 623.362.3060.
