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Good News for Cheyenne: Pending Home Sales Rise

Carla Hill from Realty Times has put together great information regarding the most recent Pending Home Sales Index from the National Association of Realtors.

This current economic downturn has wreaked havoc on businesses, households, and even the government.

The budget deficit appears to have stabilized a bit. As long as the economy continues to recover and improve, things should tend to balance out over the next few years.

Progress is being made around the nation and, slowly but surely, we are seeing that.

For the real estate market, pending home sales increased for the second consecutive month, according to the National Association of Realtors.

The NAR's Pending Home Sales Index shows that pending sales rose 4.3 percent.

We must keep in mind that any sudden rise in interest rates could slow down the recovery period. Everything has to do with inflation and if inflation starts to increase, this could render higher interest rates.

As of now, affordability is near an all-time high and we want to dwell in this period for as long as we can.

Additionally, these homes sold for 26 percent or more below the average sales price compared to properties not in foreclosure.

I feel as if it won't be a buyer's market for quite some time. We need to take things step by step, day by day. We must just keep an eye on interest rates.

If anyone has any questions about the real estate market or home buying, I would be more than happy to answer them.

The economy is in a strange state and all we can do is wait it out, take advantage of what we can, and live life as it is intended to live.



Published Thursday, October 14, 2010 7:24 PM by Joe Prunty

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