Home Sales Start to Soar

Amidst all the chatter of a low-inventory housing market, pending home sales have reached their highest point since August 2013. Pending home sales (aka homes that are currently under contract and scheduled to make settlement soon) have climbed 8.4% from this time last year, leading industry experts to speculate that the spring selling market will be a busy one.

“This bodes well for higher sales in February and March, making it a very attractive time to sell, since prices have risen at an accelerating pace in recent months,” explains Jonathan Smoke, chief economist at Realtor.com

A slew of factors are named for the five consecutive months of improving housing conditions.  Continued low interest rates, new low-down payment mortgage options available, higher employment, and record-breaking rents across the country are just a few!