November's Pending Home Sales Down

November's pending home sales down 16 percent. This is the first time after 9 consecutive months of up ward positive pending home sales that they are down in November. The market appeared to have been making positive moves and stablizing but we could be headed to a "double dip" down turn.

Part of the decline was the removal of the tax credit even though the new one is there to replace it. The National Assoc. of Realtors said the seasonally adjusted index of pending home sales were down 16 percent in November over the previous month. It was the lowest reading since June.

There had been an expectation of a down turn but not by the amount that has occured. Here in the west we only had a 3 percent down turn.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

(949)282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!