According to the National Association of Realtors, pending home sales hit their highest level since August 2013—a great sign for the United States Housing Market. Pending sales have improved for 5 consecutive months.

Homes can only be marked as pending once all the contingencies in their purchase contract have been met.

The pending home sales index rose 1.7% in January to a total score of 104.2. This January’s pending sale numbers were 8.4% higher than those seen in 2014, showing growth over the past year.

For the Western region, the index climbed by 2.2% in January to 96.4. 11.4% more homes were pending in January 2015 compared to January 2014.

In similar news, pending transactions with payments coming from an investor or in all cash fell in January. In some senses, this may be positive news because it will create less competition for a traditional buyer with a mortgage loan. Buyers already facing a short supply of homes may be more competitive with their offers in the next months.

 

Source: http://realtormag.realtor.org/daily-news/2015/03/02/pending-home-sales-surge-18-month-high

http://www.realtor.com/news/pending-home-sales-january-2015/

Image Source: http://eyeonhousing.org/2015/02/pending-sales-resume-upward-trend-2/