Pending Home Sales At The Highest Levels Since April 2010

Pending Home Sales At The Highest Levels Since April 2010

Another day, another strong report for housing. The Pending Home Sales Index climbed 2 percent in December, according to the National Association of REALTORS┬«. A “pending home sale” is an existing home under contract to sell, but not yet closed. Pending Home Sales are up for the fifth time in 6 months. The December reading is now its highest since the federal home buyer tax credit’s April 2010 contract deadline, and the figure is well north of the Pending Home Sales Index 3-year average. Coupling this data with December’s strong Existing Homes Sales report (+12%) and its strong New Home Sales report (+17%), it’s clear that the housing market has past its trough and is in Recovery Mode. Even consumer confidence is at an 8-month...

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New Home Sales Reach 8-Month High

New Home Sales Reach 8-Month High

Sales of new homes rose sharply in December, posting a 17.5 percent gain from the month prior. According to the Department of Housing and Urban Development, New Home Sales climbed to 329,000 in December, besting November by close to 50,000 units on a seasonally-adjusted annual basis. Last month’s reading is an 8-month high for New Home Sales, and the latest in a series of signals that housing is improving in Kokomo and around the country. Note that December’s Existing Homes Sales and Building Permits reports also showed marked gains last month, climbing 12 percent and 6 percent, respectively. Furthermore, an interesting pattern is emerging in the price points of home sales. The highest levels of relative growth are occurring within the “move-up...

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