NAR’s Pending Home Sales Index rose 6.1 percent to 110.1 in September compared with 103.8 in August.  The index now is 21.2 percent higher than its September 2008 reading of 90.9, the largest annual increase on record, and is at its highest level since December 2006 when it stood at 112.8.  The Pending Home Sales Index in the West increased 10.2 percent to 143.8 in September and is 23.7 percent higher than a year ago.

“What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” said NAR’s Chief Economist Lawrence Yun. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”

 

At County Properties 23 years of brokerage experience and trust! We offer free counseling in real estate re; home values and information on options of selling vs Foreclosure.  If you have equity in your home, we will sell your home and get top dollar in this challenging market. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also. Please feel free to contact me today for free counseling at (619) 301-0200 visit our website, click  CountyProperties.net

 

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.