3 Signs the Housing Market Is on the Rebound
The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound:
1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth.
2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity. Here is the month-over-month growth:
3. Buyer Traffic (the number of people shopping for a home) is up compared to the same time last year, and for the first time in 13 months.
In their most recent report, ShowingTime Chief Analytics Officer, Daniil Cherkasskiy explained:
Lawrence Yun, Chief Economist with the National Association of Realtors, believes the uptick in activity will continue into the future:
If you are thinking about selling your house, there are purchasers out there who are ready, willing, and able to buy.