Hojin's SW Orlando Real Estate Scoop

Real Estate News for Dr. Phillips, Windermere, Gotha, Celebration, Winter Garden, Ocoee, Clermont, Metrowest

Hojin's SW Orlando Real Estate Scoop header image 2

Pending Home Sales Index Rises Unexpectedly

November 13th, 2007 · No Comments

There’s finally some good news about housing. The National Association of Realtors (NAR) released an unexpected rise in their pending home sales index at 3 pm today. Economist Lawrence Yun of NAR stated “Even with relatively low fourth-quarter sales, 2007 will be the fifth highest year on record for existing home sales.” He also mentioned that sales will remain flat as long as the sub prime mortgage crisis continues to be a problem.

Pending sales only rose 1.5% in the South, but that’s better than a decline and perhaps a signal that we’re at or near the bottom.

Tags: Market Statistics