Get The Market Buzz

There was a drop in SOLD & Settled number of homes across Chester County.  For the first time in months we saw Pending Sales List Prices increase.  Move-up Buyer’s market finally seeing the result of the $8,000 tax credit.  Coming later this month - a synopsis of new buyer incentives for first-time buyers AND move-up buyers.

Short, sweet & to the point…..the most important number:  the inventory accumulation across the board dropped…which translates to pending sales continuing to be strong and steady.  First-time Buyers are out in force!

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in July, rose 3.2 percent to 97.6 (the highest level since June 2007) from 94.6 in June.  Analysts polled had forecast pending home sales to rise 2 perent in July.  Pending sales were 12 percent higher in July from the same period last year.  There is a one to two month lag between a contract and a done deal, so the index is a barometer of how sales completed this month and next will turn out.