July pending home sales rise
Posted on Tuesday, September 4, 2012 at 4:25:33 PM
Housing markets across the United States are seeing positive trends, which could entice potential homebuyers to consider making a property purchase in the near future. Pending home sale rose in July 2012 to the highest level in two years, according to the National Association of Realtors (NAR).
Forward-looking statistics based on contract signings show a 2.4 percent rise in the number of pending home sales in July 2012 to 101.7 from 99.3 in June 2012. In a yearly comparison, July 2011 had a rate of 90.5.
"All regions saw monthly increases in home-buying activity except for the West, which is now experiencing an acute inventory shortage. Falling visible and shadow inventories point toward continuing price gains. Expected gains in housing starts of 25 to 30 percent this year, and nearly 50 percent in 2013, are insufficient to meet the growing housing demand," Lawrence Yun, NAR chief economist said.
With such positive momentum, residential financing from Home Loan Investment Bank may be the right option for a potential property buyer. The affordable rates and exceptional care could make the purchasing process easier for first-time and experienced buyers.