3 Bedrooms | 2 Bathrooms | More Than 2,000 Sq. Ft. | Fenced Backyard | Optional Boating AccessPresented by Michael Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesMore Space,
Dated: April 5 2023
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There are several different monthly reports that track home sales. There's a report that covers sales of previously owned homes and one that covers new home sales. The National Association of Realtors also tracks pending sales – homes with a signed contract to buy but have yet to close. But why track pending sales? Well, they're an excellent early indicator of upcoming final sales. In other words, if contract signings are rising, next month's sales numbers will likely increase too. That's why the NAR's most recent numbers, showing pending sales for the third straight month, are an encouraging sign that the housing market may have turned a corner.
Lawrence Yun, NAR's chief economist, thinks so. "After nearly a year, the housing sector's contraction is coming to an end," Yun said. "Existing-home sales, pending contracts, and new-home construction pending contracts have turned the corner and climbed for the past three months." Those are all excellent signs that activity is ramping up as the spring season begins. They may also be signs that the market has finally started to stabilize.
The MikeDowner.com website is the most comprehensive online source for Southwest Florida real estate information and services. Whether looking for the latest sales, trends, or homes for sale in Collier County and Lee County in Florida, Mike Downer and Coldwell Banker Realty have it all at your fingertips. Browse information regarding new listings, price changes, short sales, foreclosures, new construction, investment property, land sales, or commercial locations throughout Southwest Florida at www.MikeDowner.com or call Mike at 239-722-6453.
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