One of the leading indicators of the status of the housing market is the Pending Home Sales Index released by the NAR. Just as the name suggests, this index details how many housing contracts have been signed but not yet closed. Pending Sales stats -whether high or low- are telling signs of the state of the housing market. High pending sales are a positive sign that many people are entering into contract for their next home. Lower numbers show that potential Sellers have opted to not move right now.
The most recent Pending Homes Sales Index from the National Association of Realtors revealed that homes going into contract in February increased to their highest level since June 2013. The Index is now 12% above February 2014. The index is at its highest level since June 2013, has increased year-over-year for six consecutive months and is above what is considered "the average level of activity" - for the 10th consecutive month."
Here at The Dragas Companies PENDING! is an all-too familiar term around here. First-time and experienced buyers alike seek out Dragas neighborhoods for their built-to-last craftsmanship & materials.