Pending Sale on the up Again this Month, Wilmington NC Real Estate
Image by Terry McCombs via Flickr
The Week in ReviewJanuary 8, 2012
Temperatures have been mild very unlike winter weather, most people dream of living in an area that has sunny warm days in January! If you are planning on relocating to the area drop me an email and lets get started.
Currently on the market there are 1551 single family homes listed and 159 homes under contract. In the last month there have been 141 homes sold. Not bad considering the normal slow of the holiday season.
There has been a change to the FHA loan amounts. FHA will be going back to the original max loan amounts we had last year. Starting Immediately on any new FHA Loans. The maximum base loan amount will be $303,750.
Pending Home Sales Rise Again
Pending home sales continued to gain and reached the highest level in 19 months, according to the National Association of Realtors®.
Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high. Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage.
….until next week in The Week in Review
Tina
