Among the many indicators used to track the health of the housing market, the National Association of Realtors' Pending Home Sales Index is unique. That's because, rather than count the number of homes that sold in any given month, it counts the number of signed contracts to buy homes. So what's the difference? Well, contracts are typically signed about a month before the actual closing date. Which means, pending sales offer a glimpse of where future sales might be. And, according to the most recent report, sales might soon see a lift. That's because the number of contracts signed in October was up 3.5 percent and marked the first increase in three months. Lawrence Yun, NAR's chief economist, said the improvement was encouraging but challenges still remain. “Home shoppers had better luck finding a home to buy in October, but slim pickings and consistently fast price gains continue to frustrate and prevent too many would-be buyers from reaching the market.” In short, buyer demand still outweighs the number of homes available to buy but recent news offers some reason to believe improvements are on the horizon.
For those people in Eastern, NC, who are looking to buy a new home the news is very positive. This area has continued to build many new homes and has kept a housing market that has a good selection of homes in many price ranges. This has contract signings up, yet has kept homes available for those that are looking to buy. To see some of the homes that are available go to: http://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/. More here.
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