Pending Home Sales Improve Marginally in December. Up 10.9% in 2009
Posted To: MND NewsWire
The National Association of Realtors this morning released December Pending Home Sales data. A sale is listed as "pending" when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. Mortgage and Real Estate professionals know that a signed contract is just the first step in a long process nowadays though. The hard part is qualifying and closing! Pending Home Sales…(read more)
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