Sales Continue to Rise!
I just received this information from The California Association of Realtors!
Pending Sales Rise for Eighth Straight Month
Pending home sales, based on contracts signed in September, marked the longest upward streak since measurement began in 2001, NAR says. The forward-looking index rose 6.1 percent to 110.1 from a reading of 103.8 in August. “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,” says NAR 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.”
