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Housing on the Rise: Pending Home Sales, Uptrend

According to the National Association of REALTORS, another positive sign of the housing market trending upwards, pending home sales on the rise from reaching a cyclical low in April 2011. The pending home sales real estate market are well above a year ago.

An indicator looking forward, the Pending Homes Sales Index, based on contract signings, rose 2.0 percent to 97.0 in January from a revised 95.1 in December 2011 and is 8.0 percent higher than the same last year, January 2011 when the Pending Homes Sales Index was 89.8.

Keeping in mind, the data reflects contracts signed and pending to close but not actual closed sales.

Here in South Florida, including the Fort Lauderdale real estate market, Palm Beach County and Miami-Dade County pending sales in January 2012 were posted at 2336 single family homes, 2894 condominiums and townhomes. In the South Florida region, 3155 condominiums and townhomes were CLOSED and 3906 units were sold in January 2011. Nearly unchanged in January 2012, 2498 Single family homes in all of South FLorida were closed as opposed to 2540 units the same time last year in 2011.

“Pending sales are up for the Henri Frank Group at REMAX Prefferd in Fort Lauderdale,” according to Frank Vigliotti, CDPE, REALTOR, PA and co-founder of the group. “We remain optimistic that with each month moving forward in 2012, we are expecting that not only the Pending Home Sales Index will rise, but the median home prices in the Fort Lauderdale real estate market also show gains”, added Vigliotti.

The Henri Frank Group at REMAX Preffered specializes in serving single family home buyers and condominium, townhome buyers in Fort Lauderdale, Wilton Manors, South Beach Miami, Plantation, Coral Springs, Hillsboro Beach, Boca Raton and all along the Fort Lauderdale waterfront properties areas.

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