The National Association of Realtors has released some statistics regarding pending home sales for the month of June. Pending home sales are homes under contract that are on the way to closing. Predictions for June were to be a decline of 1.0% in June. As it turns out June actually spiked to a 5.3% rebound.
The four regions of the United States all posted gains in June, and expectations are now raised for July. the Midwest rose 1.3%, the Northeast 3.4%, the West 4.6%, and the South 9.3%. This is a good indication that the pendulum is beginning to swing for the housing market.
Buyers who have been rolling the dice on the market dropping farther to maximize their opportunity need to be thinking about NOW!! As inventories reduce, prices will begin to rise again, favoring the sellers. If interest rates continue to creep upward, as well, the gains anticipated will shrink or be lost.
Put some "Do it Now" in your everyday.