Real Estate tips: Pending home sales slow, sellers’ market hangs on     | Rogersville


Pending home sales dipped in October as monthly accepted contract activity declined while the year-over-year comparison continued increasing.

Pending sales are a leading indicator of housing activity based on signed contracts for existing single-family homes and condominiums sales in the region monitored by the Northeast Tennessee Association of Realtors (NETAR) Home Sales Report. Since resales go under contract 30 to 60 days before the sale closes, pending sales offer some insight about the direction existing home sales closing will take.

“There are signs the market is moderating, if only a little bit,” according to NETAR President Kristi Bailey. “Compared with a year ago, pending sales were up 14.5 percent, which shows the local market is retaining some of the strong growth activity of last year. The month-to-month…

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