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October Sees a Spike in Pending Home Sales

  • November 30th 2011

by UrbanTurf Staff

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October Sees a Spike in Pending Home Sales: Figure 1

The National Association of Realtors today announced that pending home sales across the country surged 10.4 percent between September and October. The pending sales index measures homes that have gone under contract but not yet closed and so can’t be considered sold.

By region, sales rose 24.1 percent in the Midwest, 17.7 percent in the Northeast and 8.6 percent in the South, where DC is located. (Sales dropped 0.3 percent in the West region.) Compared to October 2010, pending sales were up 9.2 percent.

While positive news in a time when optimistic national news on the housing front is rare, today’s numbers can really be considered “good” if these pending contracts are converted to closed sales.

See other articles related to: national association of realtors, pending home sales

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/spike_of_pending_home_sales_in_october/4673.

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