Pending Home Sales Move Toward Equilibrium
Pending home sales move toward a reasonable demand figure, but within the context of the free-money down-payment program, only a fool would presume to propound a bullish stance.
The bears still have on their side record foreclosures, unprecedented negative equity, high unemployment, and a mortgage market wholly dependent upon government handouts.
To those considering a purchase, proceed with caution. Review 10 Key Charts to See Before You Buy Or Sell A Home. Check our projections of national price trends at The New Observations Forecast of Property Values.
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mike@mynewmortgage.com
Hi Greg, my guess is that we are years away from a normal market. thanks for your comment. mdw
Thank you. I can’t believe how many agents and brokers are giddy with the recent uptick in pending transactions. Let’s wait a few months to see how the loss of the tax credit affects the market before we celebrate the return of a decent market.