November Pending Home Sales Rise Modestly, Miss Estimate
December 28, 2012 by Paul AusickThe NAR’s chief economist noted:
Even with market frictions related to the mortgage process, home contract activity continues to improve. Home sales are recovering now based solely on fundamental demand and favorable affordability conditions.
Pending sales rose most in the Northeast — up 5.2% compared with October. In the Midwest sales improved just 0.1% from October, and sales in the South were unchanged. The Midwest and Northeast regions are both up 15.2% year-over-year, and the South is up 13.9%.
The West region continues to be constrained by an inventory shortage. Pending sales rose 4.2% from October but are 3.2% below sales in October 2011.
The NAR noted that pending home sales are at their highest level since April 2010.
Paul Ausick
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.