Encouraging News for Buyers and Sellers!

National Association of REALTORS (NAR) statistics show pending home sales have risen for the ninth month in a row now. The Pending Home Sale Index is the indicator which shows properties which were put under contract (or pending) the month the previous month. The numbers for October 2009 are encouraging .




For you number crunchers out there, this Index increased 3.7% to 114.1 up from 110 in September, and it is 31.8% above October 2008 when it was 86.6. The rise from October 2008 to now is the biggest annual increase ever recorded for the Index. The Pending Home Sale Index is at the highest level it has been since March 2006 when it was 115.2.



According to Lawrence Yun , the chief economist for NAR, home sales are experiencing a pendulum swing. "Keep in mind that housing had been under-performing over most of the past year". He sites that the first time home buyers tax credit is probably helping to unleash pent-up demand. Whether this will continue remains to be seen. There are many factors contributing to the health of the housing market now.



In Stone Harbor and Avalon we do not have as many first time home buyers, but we have seen the positive trickle down effect as a result of the overall stimulation in the real estate market.



Many buyers that have delayed purchasing their second homes and/or investment property have come back. Competitive prices and low interest rates have aroused the interest of the savvy real estate purchaser. They are some great deals out there and people are starting to realize it.

Homebuyers are back! After a slowdown last year, smart buyers have made the decision to buy now based on the over-all picture of lower prices, the lowest interest rates since the 50’s and higher tax credits.



This has resulted in an increase in sales of existing single family homes and condominiums for the last two months.



Savvy sellers who have positioned their prices for the market are the beneficiaries



The Holidays are always quiet, but things pick up right after Super Bowl Sunday! And our spring market begins around President's weekend in February will see even more increased activity .



Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs.

I Love to talk Real Estate! Call my cell 609.425.7521



e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521



Please visit The Address For Luxury Real Estate at www.NancyMAlexander.com . I'd love to be your Realtor!



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Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate