Archive for December, 2009

U.S. Pending Home Sales Up Sharply in October

posted on December 1st, 2009 filed under: Real Estate News

The National Association of Realtors says its index of pending home sales leaped 3.7% from September to October, adding to the mammoth 6.1% gain from August to September.  Note that these are national numbers, not specific to real estate in Coral Gables and Miami.  NAR economist Lawrence Yun had to admit the federal government’s $8,000 tax credit, previously set to expire at the end of November, was probably the explanation, and that the torrid pace of contract signings would probably recede in the future.

As always, remember that sales and prices are two different things.  If real estate prices here in Coral Gables and Miami fall further, buyers will find little consolation in the idea that more sales are taking place.

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