WASHINGTON (February 27, 2013) - Pending home sales rose in January, and have been above year-ago levels for the past 21 months, according to the National Association of Realtors®. There were healthy monthly gains in all regions but the West, which is constrained by limited inventory but was slightly improved.
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, increased 4.5 percent to 105.9 in January from a downwardly revised 101.3 in December and is 9.5 percent above January 2012 when it was 96.7. The data reflect contracts but not closings.
The January index is the highest reading since April 2010 when it hit 110.9, just before the deadline for the home buyer tax credit. Aside from spikes induced by the tax credits, the last time there was a higher reading was in February 2007 when it reached 107.9.
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Source: National Association of Realtors
Other links and blogs:
Investing in California Real Estate is Golden. [Open in new window]
Campbell, California home sales trends. [Open in new window]
Silicon Valley Homes : http://bit.ly/15gtQ60
Santa Clara Real Estate Trends: http://bit.ly/15kF7Cp
SAN MATEO COUNTY TRENDS: HTTP://BIT.LY/12XOFIC