Pending home sales strongly rebounded to close out 2019, following a 1.7 percent decline in October.
The National Association of Realtors said the Pending Home Sales Index gained steam in November. It rose 1.2 percent that month and was up nearly 8 percent year over year.
Analysts had expected slower growth both on a month-to-month and yearly basis.
And there may be a reason to believe the index may not slow down anytime soon. Given the favorable market conditions, such as historically low interest rates, large credit availability and competitive home prices, the index may be positioned to continue its upward direction.
If you think 2020 might be the year you jump into the real estate market, consider an FHA or VA Loan if you are a first-time homebuyer. These loans offer more lenient qualifying guidelines than some of the conventional loan options. For those looking to upgrade, you might consider a Jumbo Loan.
If you’ve fallen in love with the Seattle/Renton/Tacoma areas, you might be thinking about establishing roots and purchasing a home. If you’re in this phase, please do not hesitate to contact us to learn more about the real estate opportunities in this healthy market.