Healthy Gain is Seen in Pending Home Sales

Good new for the housing market that pending home sales have increased according to this past December reports. See what the National Association of Realtor’s report says:

“Pending home sales increased as more buyers took advantage of improved affordability conditions, according to the National Association of Realtors®. Big gains in the South and Midwest offset modest declines in other regions. . . . .

NAR’s Housing Affordability index rose 10.9 percent in December to 158.8, the highest on record.2 The HAI shows that the relationship between home prices, mortgage interest rates and family income is the most favorable since tracking began in 1970.”

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