tag:blogger.com,1999:blog-8529580665294663953.post8446826015545723926..comments2023-10-27T04:26:57.609-07:00Comments on InvestorCentric: Pending Home Sales Hint At Housing RecoveryNuWire Investorhttp://www.blogger.com/profile/02512928198926080436noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8529580665294663953.post-19585879984555841752009-08-10T10:57:00.116-07:002009-08-10T10:57:00.116-07:00Great news or just a seasonal factor coming to pla...Great news or just a seasonal factor coming to play? Residential sales activity is returning to the levels of the seasonal sales market. No one should be surprised that new homes sales have increased with the incentives of the $8,000 new home buyer program and interest rates below 5.5%.<br /><br />But hold on, seasonal sales activity should be up. The peak months for sales will be June, July and August. So for the next several months we should continue to see a recovery in activity. The key benchmark for recovery is the median sales price, which is still down. Once the excess building supply and foreclosure activity (http://accuriz.com/RealEstate_Reports.aspx) abates, this number should correct itself to higher levels of $220,000 to $225,000. This will not occur until the summer selling season of 2010.<br /><br />So yes, great news, but the real recovery is still a year off.AccuriZhttps://www.blogger.com/profile/00302851770144621772noreply@blogger.com