National Association of Realtors Announces Pending Home Sales Up in May 2012
NAR’s Chief Economist Predicts Continuing Growth
June 27, 2012 – The National Association of Realtors released news of May 2012’s contract statistics, indicating that the number of contracts signed in May of this year to be 13.3% higher than May of 2011. Lawrence Yun, the NAR’s Chief Economist, noted that a more comprehensive view of contract statistics is needed for a more accurate prediction of future real estate market activity. “The housing market is clearly superior this year compared with the past four years. The latest increase in home contract signings marks 13 consecutive months of year-over-year gains,” explained Yun. While a contract signing is not a guarantee that a property will sell, an increase in contract signings is a good indicator that the current real estate market will continue to improve.