Philadelphia Real Estate Sales Rise Strongly In May
Philadelphia Real Estate Sales Rise Strongly In May
All regions of the US experienced strong gains in pending home sales from a year ago which is a positive indicator for housing activity in the second half of this year. The Pending Home Sales Index predicts future activity because it is based on contracts signed but not closings which typically follow in 45-60 days. Absorption of inventory is also the key to reducing surplus inventory and correcting the housing market. This data corresponds to the unscientific poll I conducted at the Prudential Fox & Roach Society Hill office in Center City Philadelphia. Most realtors report an uptick in showings, written offers and accepted offers.
- May Pending Home Sale Index
Here’s a short clip featuring the National Association of Realtor’s chief economist Lawrenence Yun discussing the data.
To search Philadelphia Real Estate listings for condos, homes and apartments click here.
Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
www.CenterCityTeam.com
