Pending homes are UP! Great sign for Indy area housing

     

    Our Evelo Team, Keller Williams Realty Indy Metro NE agents have noticed that SOLD signs are going up FAST in our Fishers and Indianapolis, Indiana area!  Wondering if the rest of the U.S. is seeing the same surge in home sales?  Yes, they are! The most recent Pending Homes Sales Index from the National Association of Realtors revealed that homes going into contract in February increased to their highest level since June 2013.

    The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

    The Index is now 12.0 percent above February 2014. The index is at its highest level since June 2013, has increased year-over-year for six consecutive months and is above what is considered “the average level of activity” – for the 10th consecutive month.

    Here is a graph showing the Pending Sales numbers:

    Pending Home Sales | Keeping Current Matters

    Here is a chart showing the Pending Sales increases by region:

    Pending Home Sales By Region | Keeping Current Matters

    Bottom Line

    In an article from Investors’ Business Daily, Lawrence Yun, Chief Economist at the National Association of Realtors, explained what these numbers will mean to the overall market:

    “It looks like the buyers want to come out to the market and they are eager to find the right home and make an offer. Therefore, I expect the second quarter of this year to be easily ahead of last year in terms of sales activity. Pending contracts are implying that the closing activity in coming months will be quite solid.”

    Looking to buy or sell a home in Fishers or Indianapolis, Indiana?  The Evelo Team can help!  We sell a home every 2.5 days – let us show you how we can help you!

    317-863-4663

    info@eveloteam.com

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