The National Association of Realtors reported the ninth month for increase in the number of signed contracts for homes in the US. This isn’t the number of homes sold and some deals will fail but it’s a good indicator for the housing market.
The NAR reported Pending Home Sales rose 3.7% from September to October and the index is 31.8% higher than a year ago. That’s the biggest year-over-year gain in history. As for the Phoenix market, home inventories have been going down to a four month supply and the home values have gone up from Spring of 2009 to the Fall of 2009. Low Interest Rates and the Federal Tax Credit contributed to the good news and now that Congress has extended and expanded the Tax Credit there are high hopes that it will continue to help the market in 2010.
RooPho Realty has a 100% increase in sales in 2009, doubling any year we’ve had before in the number of homes we sold. That’s huge in this economy and we’re very proud to say that we don’t only help the home owners in trouble or in the high value properties but many of these homes were under $50k and we continue to help people buy and sell in all areas of the market.