Pending Home Sales Up Again!

As your local economist of choice, we wanted to be the first to share some promising news with you!! More Americans signed sales contracts to buy homes in June than in May, the fifth consecutive month of increases, according to a report released Tuesday. Our team, Castles By Chrissy, has seen a significant pick up in activity as well!

The National Association of Realtors said its Pending Home Sales Index rose 3.6% during the month. That was 6.7% higher than June 2008. It was the fifth straight month of increases, the first time that has happened since July 2003. "Historically low mortgage interest rates, affordable home prices and large selection are encouraging buyers who've been on the sidelines," said NAR chief economist Lawrence Yun.

Low-end sales have been the strongest segment of the market, an indication that the first-time homebuyers tax credit, worth up to $8,000, is contributing to the rise. The clock, however, is quickly running out on this offer -- if you want to capitalize on this offer you need to start looking TODAY!

And, perhaps the best news is that home construction may be ready to once again boost the economy again. "The construction-put-in-place numbers that come out next month will show that housing is starting to add to the GDP," said Bernard Markstein, a senior vice president and economist with the National Association of Home Builders. I think its finally true, the bottom has hit, and you don't want to be the one to miss it! Call the Castles By Chrissy Team today and let us help you find the best deal out there!

Take care,

The Castles BY Chrissy Team
www.CastlesByChrissy.com