See on Scoop.it – Charlotte Real Estate
Despite expectations of a drop-off in home sales this fall, a forward-looking indicator shows a growing number of buyers are jumping back into the housing market.
The National Association of Realtors’ Pending Home Sales Index rose 2.4 percent in July from June and is now 12.4 percent higher than it was a year ago. This index, which measures signed contracts to buy existing homes, is now at its highest level since April of 2010, just before the end of the home buyer tax credit.
“While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity,” said the Realtors’ chief economist, Lawrence Yun.
See on www.cnbc.com