The number of signed contracts for homes rose to the highest level in a year-and-a-half in November 2011. There is usually a couple of months lag between a signed contract and a completed deal.
However, things are still not back to the levels seen just a few years ago. Sales of previously occupied homes are around the level of 2008, which were the worst yearly showing since 1997.
The number of contracts used to be a good gauge of future home sales; this is no longer the case. Many buyers are canceling their contracts before consummation, making it a less reliable predictor of sales.
Buyers are still hesitant due to high unemployment, weak job prospects, larger down payments required, more difficult to obtain a loan and fear prices will keep falling.
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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