Housing Stats Continue to Rise Across the U.S. and in Roswell!

The National Association of Realtors has reported that existing-home sales jumped 9.4 percent in September to a seasonally adjusted rate of 5.57 million units, and they were 9.2 percent higher than the 5.10 million units sold in September 2008. September sales activity was at the highest level since July 2007.  The NAR attributes the increased sales activity to the first-time homebuyer tax credit, falling home prices and continued low interest rates. 

Pending Home Sales Hit 4th Straight Monthly Gain

According to the National Association of Realtors, pending home sales show a sustained upward trend, rising for four consecutive months.  The increase in sales is believed to be because of more favorable housing affordability and the first-time homebuyer tax credit. 

The indicator used for tracking this upward trend is the Pending Home Sales Index.  This indicator is based on pending sales of existing homes.  A sale is listed as pending when the contract has been signed but the transaction has not yet closed, though the sale is usually finalized within one or two months of signing. 

Housing Stats on the Rise Across the U.S.

Reuters has just announced that pending sales of previously owned homes rose in March for a second straight month across the Nation.  Construction spending edged higher, according to reports on Monday that suggested a moderation in the housing slump. These reports boosted stock prices, and is the latest in a series of reports that support views that the recession, which entered its 17th month in May, was close to finding a bottom.  The collapse of the U.S. housing market and the resulting credit crisis pushed the economy into deep recession and analysts have watched home sales for signs of an end to the economic downturn.

Good News!

Existing U.S. home sales rose 6.5% from November to December; the largest percentage increase in seven years.  The increase is fueled by lower mortgage rate and the temptation of lower housing prices.

Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which represents a 9.3 month supply at the current sales pace, down from a 11.2 month supply in November.