Saratoga Springs NY, Info That Hits Us Where We Live – Pending Home Sales Hit Highest Level Since 2010!
QUOTE OF THE WEEK… “There is always room at the top.” –Daniel Webster, American statesman and senator
INFO THAT HITS US WHERE WE LIVE, Saratoga Springs, NY… Last week, Pending Home Sales took their place at the top, hitting their highest level since April 2010, when folks were rushing to close before the homebuyer tax credit expired. April Pending Home Sales, based on signed contracts for existing homes, were up 0.3% over March and up 10.3% over last year, according to the National Association of Realtors (NAR). Their chief economist predicts, “Total existing home sales are expected to rise just over 7%, to about 5 million this year.”
The NAR’s economic honcho also feels that in 2013, “Because of inventory shortages, higher home sales will push up home values to the highest level in five years.” Those values appear to be well on their way up. Evidence? The latest S&P/Case-Shiller 20-City Composite index was up 10.9% in March compared to a year ago, the highest annual home price gain since 2006. In addition, all 20 cities tracked registered annual increases and all showed monthly gains for the fifth month in a row!
Orson B.Klender, Associate Broker
Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866
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