RISMEDIA, September 2, 2009—Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2% to 97.6 from a reading of 94.6 in June, and is 12.0% higher than July 2008 when it was 87.1.The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said. “Other buyers are taking advantage of low home values before prices turn higher. 

1st Time Home Buyers Act NOW:  Please remember that in order to take advatage of the government's $8,000 rebate you must CLOSE on your new home before November 30th.  That means offer to purchases should be complted and loans should be applied for before October 15th.  

MTG rates have been stable but home prices have already begun to firm and the good homes go quick.  Don't let 2009 be the year "I should, woulda, could have".  Call us today and take advantage of what some are calling the best real estate opportunity in 25 years.  704.409.4900

Buddy