November 2012 Pending Home Sales - What do the numbers mean?

A look at the November 2012 pending home sales posted by NAR and look back over the past 12 months. 

Yes, the increase in the number of home buyers entering the market is apparent.

But what do the numbers mean?  

What is driving the increase in pending home sales?

• Affordability (Low Prices)
• Low, low interest rates
• Projected increases on both fronts
• Low inventory

All of the above factors have driven people off the fence and  into the market in great numbers..  

Looking at November 2012 we can see that the current numbers blow November 2011 numbers out of the water.

Does this mean we are back to the levels of 2006?  Not even close.  2006 was an artificially inflated level that could not be sustained.  What these numbers reflect is a normal, healthy, sustainable rate of growth.

I will post these numbers monthly to monitor our current market position in comparison to the the previous years position.

Are you wondering if now might be a good time for you to buy or sell? 

Call me today at (914) 374-8354 and let's schedule and appointment to talk about it.