The National Association of Realtors reported the 5th
consecutive month of increased pending home sales – the highest number since
the peak of the housing boom in 2006!
Pending sales, or homes under contract, are up 10% over last
year according to the latest monthly data from May of this year. These numbers
round out a strong spring season with data showing the trend to continue
through the summer.
Sales volume is up as well as sales price. The average home
price is up 7% over last year. First
time buyers are re-entering the housing market – making up 32% of all buyers –
an increase of 27% from a year ago.
So what does this mean for you? Now is the time to buy! Home
prices will only continue to rise as sales continue to increase. Enjoy the AC
in your car and come look at our new homes this weekend!