We’re off and running in 2013! More great news from our friends at the National Association of Realtors (NAR). Pending home sales were up in all regions of the country. From December to January, pending home sales were up 4.5%. Since this time last year, pending home sales have increased 9.5%.
This is great news for the housing industry as many markets are experiencing a squeeze on the available inventory. Current market conditions have shifted the supply/demand balance into the sellers favor, which is why many areas are seeing solid increases in home prices.