Thanks for checking in on my blog for today. Central Florida is seeing a definite continuation of its incredible healthy real estate market. Brewer Realty Group does its best to keep you informed on the latest happenings in your market area. Read on to learn a little about the current market conditions.
The pending index hit a record high in Aug., with the number of sales under contract rising for the past four months in a row. Economists say they expected market stability during the shutdowns, but they are “surprised to see the industry bounce back so strongly and so quickly.”
WASHINGTON – August pending home sales continued to move upward, marking four uninterrupted months of positive contract activity, according to the National Association of Realtors® (NAR). Each of the four major U.S. regions included in the report had both month-over-month and year-over-year increases in pending home sales transactions.
The Pending Home Sales Index (PHSI)
– a forward-looking indicator of home sales based on contract signings – rose 8.8% to 132.8 – a record high – in August.
Year-over-year, contract signings rose 24.2%. An index of 100 is equal to the level of contract activity in 2001.
These figures are not cookie cutter across the board. For an in depth look at your area, call Dan and Sheri Brewer at Brewer Realty Group today to learn more.