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National Pending Home Sales Increase in November


National pending home sales were slightly higher by 0.2% in November 2013 according to the National Association of Realtors. It is the first increase in five months. 

Pending home sales are measures housing activity based on signed real estate contracts, not closings or new development. Pending home sales are considered a more up-to-the-moment indicator than NAR's existing home sales index. Like a precursor of things to come.

The numbers showed growth in the South (2.3%) and West (1.8%) while declining in the Northeast (-2.7)% and Midwest (-3.1%).

Locally for Lee County, Florida, pending single-family sales those under contract and awaiting closing – are currently at 1,081 for November 2013. This is 1.4 percent higher than in November 2012 (1,066) and 3.1 percent than the prior month (1,116). 

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Serving Cape Coral and Fort Myers - Lee County, Southwest Florida.