Pending Home sales jump strongly in August by 7.4 percent

Sunny Isles Beach Broker News

Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the National Association of Realtors^®.

The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.

Pending home sales are strongly up in California, Nevada, Arizona, Florida, Rhode Island and the Washington, D.C. region.

More articles dealing with the Southeast Florida Real Estate market can be found at http://www.sunnyislesbeachbroker.com/blogs/katerina_brosda/default.aspx

Katerina Brosda, President & CEO of Brosda & Bentley Realtors can be reached at (786) 406-1757