For the month of March, the nation’s real estate market showed signs of improvement with pending home sales, inspiring hope in today’s sellers!
Overall
According to an article from the Associated Press, The NAR’s “seasonally adjusted index of sales agreements rose 8.2 percent from January to a February reading of 97.6.” Whether buoyed by the government incentives or something else, home sales have been showing signs of improvement. For March, “the biggest month-to-month increase was in the Midwest, where pending sales jumped nearly 22 percent. Sales climbed 9 percent in the South and Northeast, but fell about 5 percent in the West.”
Wondering about more specific markets? Check out the below info!
Boston
Pending sales were up 27% from last march for homes and up 38% for condos. According to an article in The Boston Globe, March was the ninth straight month that pending sales gone up when compared to the same month a year ago, the association said.
Philadelphia
A Philly.com article points out that changes even in February, in which “3,630 houses went under contract in the Philadelphia region…compared with 3,397 in January and 3,226 the same month a year ago.”
Nashville
Music City experienced as much as 18 to 20 percent growth in March home sales, according to WSMV-TV. This marks a sharp change from previous months.
So what does this mean for you?
Bottom line, today’s market is changing, if gradually, and this is excellent news for sellers. Now is the time to get your home priced competitively and in immaculate condition; the buyers are out there, increasingly each month!