Pending Homes Sales Index Rises

posted on April 7th, 2010 filed under: Real Estate Market Data

January’s dreary pending homes sales index of 90.4 gave way to a brighter index of 97.6 for February.  An index level of 100 represents the level of contract-signing activity in January 2001.  Data are seasonally adjusted.

Real estate sales activity may surge in anticipation of the April 30 final expiration of the $8,000 homebuyer tax credit.  Here in Miami and Coral Gables, property sales tend to peak a little earlier than up north anyway, so turnover could be brisk.

Of course, that begs the question what happens to property sales and values when the government’s intervention vanishes.

Index maintained by National Association of Realtors.

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posted by // This entry was posted on Wednesday, April 7th, 2010 at 9:35 am and is filed under Real Estate Market Data. You can follow any responses to this entry through the RSS 2.0 feed.

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