Brad Smith\’s Blog

Midwest sees 17.2% year-over-year jump

By Inman News
Inman Newsâ„¢

After an April dip, pending home sales rose sharply in May, for the first annual increase in over a year, according to a report from the National Association of Realtors.

NAR’s Pending Home Sales Index rose 8.2 percent month-to-month and 13.4 percent year-over-year in May, to 88.8. An index score of 100 is the average level of contract activity in 2001, the first year that index data was collected. May saw the first year-over-year index increase since April 2010, NAR said.

The index, which tracks homes under contract, is a leading indicator, and the latest data suggest home sales will jump in June and July.

“Absorption of inventory is the key to price improvement,” said Lawrence Yun, NAR’s chief economist.

He cautioned, however, that “the job market has sputtered recently, and because variations in local job creation impact housing demand, markets will recover unevenly around the country.”

Pending sales jumped in all regions last month. The Midwest saw the biggest year-over-year increase, 17.2 percent, and the second-biggest month-to-month increase, 10.5 percent, to 82.8.

In the South, the index rose 14.6 percent year-over-year and 4.1 percent month-to-month, to 95.

The West saw the biggest month-to-month increase, 12.9 percent, and a 13.5 percent year-over-year increase, to 100.6.

The Northeast was the only region that did not experience double-digit increases. Pending sales in the region rose 4.4 percent year-over-year and 7.3 percent month-to-month, to 69.2.

http://lowes.inman.com/newsletter/2011/07/01/news/146381

Midwest sees 17.2% year-over-year jump

By Inman News
Inman Newsâ„¢

After an April dip, pending home sales rose sharply in May, for the first annual increase in over a year, according to a report from the National Association of Realtors.

NAR’s Pending Home Sales Index rose 8.2 percent month-to-month and 13.4 percent year-over-year in May, to 88.8. An index score of 100 is the average level of contract activity in 2001, the first year that index data was collected. May saw the first year-over-year index increase since April 2010, NAR said.

The index, which tracks homes under contract, is a leading indicator, and the latest data suggest home sales will jump in June and July.

“Absorption of inventory is the key to price improvement,” said Lawrence Yun, NAR’s chief economist.

He cautioned, however, that “the job market has sputtered recently, and because variations in local job creation impact housing demand, markets will recover unevenly around the country.”

Pending sales jumped in all regions last month. The Midwest saw the biggest year-over-year increase, 17.2 percent, and the second-biggest month-to-month increase, 10.5 percent, to 82.8.

In the South, the index rose 14.6 percent year-over-year and 4.1 percent month-to-month, to 95.

The West saw the biggest month-to-month increase, 12.9 percent, and a 13.5 percent year-over-year increase, to 100.6.

The Northeast was the only region that did not experience double-digit increases. Pending sales in the region rose 4.4 percent year-over-year and 7.3 percent month-to-month, to 69.2.

http://lowes.inman.com/newsletter/2011/07/01/news/146381

I™ve just sold a Resale – single family property at 2949 Pine Valley Dr in Miramar Beach. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Resale – single family property at 2949 Pine Valley Dr in Miramar Beach. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Resale – single family property at 2949 Pine Valley Dr in Miramar Beach. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Resale – single family property at 2949 Pine Valley Dr in Miramar Beach. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

Beginning June 1st, 2011, Vision Airlines is opening up even more cities to be able to fly to the Emerald Coast.   For a limited time, they are offering $39 one way trips to Ft. Walton Beach (VPS) from Memphis, St. Louis, Las Vegas, and LaFayette LA.   This is great news for our area and will allow our visitors from other parts of the country to come to the area for the first time.   To book your “introductory price” visit Vision Airlines at www.visionairlines.com  .   Hurry because the special $39 fare won’t last long.  

I™ve just sold a Residential lot property at 1614 San Giovanni Dr in Miramar Beach. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Resale – single family property at 3022 Club Dr in Miramar Beach. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

The Emerald Coast along with the Destin and Rosemary Beach areas are continuing to get publicity as the place to be this Spring and Summer.   Click on the link below to read the article featured on Bing Travel.

http://www.bing.com/travel/content/search?q=Family+Spring+Break+to+Love%3a+Florida’s+Emerald+Coast&FORM=TRSSPG