Pending Home Sales For December 2008

Tuesday’s report of Pending Home Sales reflected an increase for December 2008.

A “pending home sale” is a home under contract to sell, but not yet closed.

The group positions Pending Home Sales report as a predictor of future activity, suggesting that home sales will spike in 60 days.

Notable flaws Specifically not included in Pending Homes Sales are:

• Sales of new construction homes
• Sales of For Sale By Owner properties
• 80 percent of non-surveyed MLS transactions

Pending Home Sales still has its place,  it’s a terrific look at the current buy-side demand for homes. Clearly, low mortgage rates and falling home prices are making an impact and this is why the December’s Pending Home Sales report is so important.  It’s the third housing report this month that shows the demand for homes rising while the supply of homes falls.

• The number of “used” homes sold monthly is rising
• The number of new homes being built are falling

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   February 4, 2009 at 8:24 pm

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2. Pending Home Sales For December 2008 · Real-Estate.ExplainedOnline.Net says:

   February 4, 2009 at 8:47 pm

   [...] Original post by Your Mortgage Planner’s Weblog / Mortgage 2.0 [...]
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