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Good news. According to the National Association of Realtors chief economist, Lawrence Yun, the housing market has turned for the better: “The recovery is broad-based across many parts of the country. Housing affordability is at record highs.”
The Pending Home Sales Index reports that contract activity for pending home sales supports this good news. Pending sales have risen for six straight months. This six-month upswing is a pattern never before seen since the Index began in 2001, according to the NAR. These “pending sales†represent a signed contract where the property has not yet closed.
Buyers are taking advantage of lower home prices. Yun also says “Existing-home sales are expected to rise through the fourth quarter and into next year.â€
Don’t miss out on an opportunity. Some of our neighborhoods have great values right now. And what is interesting is that many people are not selling before they buy. Some clients with equity in their current home are holding it for a sale in a year or two while buying a new home at a great value: live in one – rent the other.
With lower prices and lower interest rates, this may be the time to consider your options. Would you like to see what is available now in Saratoga, Los Gatos, Monte Sereno and adjacent communities? Let me know and I will send you a list of hot properties that meet your needs.
Rick Bonetti | Alain Pinel Realtors | 408-857-8800