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Pending home sales in California rise in January

This week, California Association Of Realtors debuted its Pending Home Sales Index and released key distressed property data.
 
Pending home sales in California increased in January, according to C.A.R.’s Pending Home Sales Index (PHSI*). The index was 93.6 in January, rising 13.6 percent from December’s index of 82.4, based on contracts signed in January.  Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.

“Pending sales typically rise in January from a seasonally slow November and December,” said C.A.R. President Beth L. Peerce.  “January’s pending sales should be reflected in higher existing sales activity in February and March and serve as a precursor to the spring home buying season.”

Reprinted From C.A.R.

Posted by Adam Mallory on February 28th, 2011 9:11 AMPost a Comment (0)

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