Denver Colorado Real Estate

Pending Home Sales Rise in November 2011

From Realtor Magazine:

Pending home sales continued to gain in November and reached the highest level in 19 months, according to the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 7.3 percent to 100.1 in November from an upwardly revised 93.3 in October and is 5.9 percent above November 2010 when it stood at 94.5. The October upward revision resulted in a 10.4 percent monthly gain.

The last time the index was higher was in April 2010 when it reached 111.5 as buyers rushed to beat the deadline for the home buyer tax credit. The data reflects contracts but not closings.

Read the entire article here.

While it's great to see good news, I'd like to see a trend of good news that forms a solid base and gives us a jumping off point to start healing this real estate market.  Are we on the way?  I'm not sure yet, but if banks start lending again and jobs are created, it's a possibility.

Some Good Signs for the Real Estate Market

From Realtor Magazine:

Daily Real Estate News | Tuesday, December 27, 2011

Sales ticked up for existing homes and new homes, several real estate market indicators revealed last week, pointing to a housing market that may finally be entering recovery mode.

In the most recent report, the Census Bureau reported that the new-home market continued its rebound, with sales of new houses once again inching up last month. New-home sales rose 1.6 percent from October to November to an annualized rate of 315,000, and sales were up nearly 10 percent compared to November 2010.

The median sales price of a new home in November was $214,100, the Census Bureau reported, and the inventory of new houses nationwide decreased to a six-month supply at the current sales pace.

Read the entire article here.

Some good news.  I am hopeful this will continue as we enter 2012, but I am just not certain.  There is still a lot of bank inventory that we will need to deal with before we can start to see some decent appreciation.  We need to economy to stabalize and we need good solid jobs to become available.  Then, I think we have a chance to start moving forward and healing this real estate market.  But, I will take and/all good news I can get at this point.