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Number of signed sales contracts to buy homes rises for the eighth straight month.
We find it interesting that the number of signed sales contracts continues to rise. This is the number of homes in escrow, and according to the National Association of Realtors (NAR) Pending Home Sales Index, pending home sales are at the highest level since December, 2006.
A few bullet points from today’s CNNMoney.com article:
- Today’s rise is far better than expected.
- Much of the improvement is due to the government’s first-time homebuyer tax credit program.
- Market conditions are very favorable for Buyers right now.
- Prices appear to have stabilized, with the S&P/Case-Shiller Home Price index up four months in a row and completed sales of existing homes at their highest level in two years.
- Foreclosures, however, continue to plague many markets, adding to supplies on homes for sale,
(full article here, South Lake Tahoe pending home sales data below)
What about South Lake Tahoe?
South Lake Tahoe, CA:
The number of homes in escrow right now is: 97
On September 1st it was: 107
On August 8th it was: 96
On July 18th it was: 88
On June 17th it was: 94
On May 7th it was: 72
On April 7th it was: 58
On January 4th it was: 36
Stateline, NV:
The number of homes in escrow right now is: 20
- On August 15th it was: 17
- On July 20th it was: 16
- On June 12th it was: 21
- On May 11th it was: 14
- On April 4th it was: 17
- On January 1st it was: 7
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