Nationwide the number of pending home sales increased by 2 percent last month to reach its highest level since March. In addition the forward-looking Pending Home Sales Index is up 11 percent from its low of the year, according to the National Association of Realtors®, and well ahead of its rolling 6-month average.
Regionally the story is not so bright. The official Pending Home Sales Index report includes a region-by-region breakdown. Between May and June 2011, results varied by region:
- Northeast Region: -0.4%
- Midwest Region : -3.7%
- South Region : +4.4%
- West Region : +6.4%
Pending Home Sales in Cincinnati
Locally it is important to research the pending sale activity varies by town and even by neighborhood. Within Cincinnati certain neighborhoods are seeing decreased days on market and slowly rising prices. We have seen a ebb and flow in our local markets and that activity may be tied to larger economic activity. Traditionally there is a second selling season in Cincinnati in late summer. We are excited to help all of our active buyers find homes as we head into fall!