WASHINGTON – April 28, 2011 – March saw another increase in pending home sales, with contract activity rising unevenly in six of the past nine months, according to the National Association of Realtors® (NAR). The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, rose 5.1 percent to 94.1 in March from a downwardly revised 89.5 in February. The index is 11.4 percent below 106.2 in March 2010; however, activity was at elevated levels in March and April of 2010 to meet the contract deadline for the homebuyer tax credit. The data reflects contracts but not closings, which normally occur with a lag time of one or two months. “Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own,” says Lawrence Yun, NAR chief economist. “The index means modest near-term gains in existing-home sales are likely, which would be even stronger if tight mortgag...

ORLANDO, Fla. – April 20, 2011 – Florida ’s existing home and existing condo sales rose in March, according to the latest housing data released by Florida Realtors®. Existing home sales increased 12 percent last month with a total of 18,522 homes sold statewide compared to 16,540 homes sold in March 2010, according to Florida Realtors. Statewide sales of existing condos last month rose 24 percent compared to the year-ago sales figure. Seventeen of Florida’s metropolitan statistical areas (MSAs) reported higher existing home and existing condo sales in March; 17 MSAs also had higher condo sales. It’s the fourth consecutive month that Florida Realtors has reported higher year-over-year existing home and existing condo sales statewide. “A variety of housing opportunities is available at attractive prices across the state, while mortgage interest rates remain historically low,” said 2011 Florida Realtors® President Patricia Fitzgerald, manager/broker-associate with Illustrated Pr...

Sales in the Sarasota real estate market reach highest level in six years Total property sales in the Sarasota real estate market hit 800 for the month of March 2011 - the highest level since September 2005 when sales started to decline. The other great news in March - prices rose in double digits for both single family homes and condos from the previous month, pending sales were the highest since the real estate boom ended in 2005, and the inventory dropped to 5,501 - less than a third of the available properties on the market during the boom. "Sarasota is clearly a recovering market," said SAR President Michael Bruno. "Agents are very busy showing properties and writing contracts, and people are excited about our strong market rebound. Obviously, we haven't seen numbers like these in several years. There is a buzz in the local market that's reaching out to buyers across the nation and even internationally." What makes the statistics even more po...

Southwood - Sarasota