The Pending Home Sales Index reflected that pending home sales reached their highest level in 10 years last month, according to the National Association of Realtors (NAR). The index measures contract signings for homes during a period of time, acting as a forward-looking indicator of an upcoming sales forecast.
“After last month’s gain, the index has now increased year-over-year for 20 consecutive months. Vast gains in the South and West propelled April’s pending sales … to its highest level since February 2006.” -FloridaRealtors
While home sales are rising, mortgage rates continue to stay low at this time. According to NAR’s chief economist, Lawrence Yun, “even if [mortgage] rates rise soon, sales have legs for further expansion this summer if housing supply increases enough to give buyers an adequate number of affordable choices during their search.”
If you’re interested in Sanibel real estate–whether you’re buying, selling, or just looking–contact one of our knowledgable Sanibel realtors, search our MLS for available properties, or get in touch with our office at 239-272-2411 for general inquiries. We’re also more than happy to help you find the Sanibel realtor that’s the right fit for you.
References: NAR: Pending home sales at 10-year high
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This article is provided by John R Wood Properties, a full service Sanibel Island real estate agency made of people who love where they live as much as what they do. With local knowledge and decades of combined experience, our Sanibel and Captiva Island realtors are passionate and dedicated to exceeding your real estate needs.
About the author: Nina Rogers is a writer, designer, and illustrator who grew up on Sanibel Island. As a Communications Content Manager for John R Wood Properties, Nina enjoys keeping people updated with the latest in local news and Sanibel real estate.
