July 13, 2024

2023 Real Estate Good News

Pending home sales rise for third straight month!

2023 Real Estate Good News - San Diego 4Br. home for sale

The National Association of Realtors (NAR) recently reported its Pending Home Sales Index, based on signed contracts, rose 0.8% last month to the highest level since August. Contracts jumped 6.5% in the Northeast. They also edged higher in the Midwest and South, but dropped 2.4% in the West.

2023 Real Estate Good News

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Rubeela Farooqi, chief U.S economist at High Frequency Economics in White Plains, New York said: “These data are potentially signaling some stabilization in home sales at lower levels”.

A separate report from the Mortgage Bankers Association on Wednesday showed applications for loans to buy a home increased 2% last week, rising for the fourth week in a row. Home loan applications were, however, 35% lower compared to the same period a year ago.

So what do you think? Is this really a sign that the real estate market is recovering?
Could this be more likely, what’s known in the stock market, as a dead cat bounce?

2023 Real Estate Good News

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