Last week, we quoted a report from the National Association of Realtors stating theÂ third consecutive month of increasing salesÂ for existing homes. Today, we're excited to report that the NAR has found pending home sales are at their highest in 21 months. This means more agents are signing contracts with buyers, decreasing existing-home inventory. Chief economist for the National Association of Realtors, Andrew Yun, cited job growth and rising rental costs as the reasons behind the steady increase in pending home sales.Â "If and when credit availability conditions return to normal, home sales will likely get a 15% boost, speed up the home-price recovery, and thereby significantly reduce the number of homeowners who are underwater," said Yun. This report from the NAR follows the recent findingsÂ that home prices were at their lowest at the end of 2011 since 2002. While lower home prices spelled doom and gloom for some analysts, the January home report from the NAR shows one thing is going up-- sales. Buyers seem to be taking advantage of lower prices and affordable financing. Last month, first-time buyers made up 33% of the market for pre-existing homes. For more information and to check out the full report, head over toÂ Housing Wire.
Take a look at what's happening now in Philadelphia
The U.S. Constitution Turns 225Â -Â Throughout 2012, the National Constitution Center will be the national headquarters of a historic milestone: the United States Constitutionâ€™s 225th anniversary. Located on Independence Mall in Historic Philadelphiaâ€”where the Constitution was signed on September 17, 1787â€”the Center is presenting an extraordinary schedule of onsite and online programs that engage citizens nationwide in celebration of the Constitution and its legacy of freedom. (Read more)
The Flower Show Returns March 4, 2012Â -Â One of the biggest and certainly most beautiful displays to hit the floor of the Philadelphia Convention Center returns this week for its annual celebration of horticulture. The Philadelphia Flower Show begins its week-long exhibit Saturday, March 4th featuring thousands of exotic plants, rare flowers, and other stunning installations. (Read More)
Looking for a new home? Your next investment? TBT Philly can help you.Â
The team of realtors at TBT Philly are excited to show you several investment properties from our growing investment portfolio. These are priced to move and wonâ€™t last ... (Read More)
This newly-updated condominium features views of Rittenhouse Square from every room.Â Unit 1607 in the Rittenhouse Hotel offers over 1,500 square feet of Â luxurious living space. This one bedroom, one and ... (Read more)