The National Association of Realtors (NAR) reported that the Pending Home Sales Index increased .5% in July from an upwardly revised June report and is up 7.4% from July, 2014. The index is a forward-looking indicator based on signed contracts reported by NAR.
Most of the July strength was in the Northeast which increased 4.0% in July. The South was up slightly while the Midwest remained unchanged and the West decreased 1.4% in July. Year-over-year, the PHSI was up 12.1% in the Northeast, 7.5% in the West, 6.5% in the South and 5.7% in the Midwest.
The positive pending sales report follows a strong 5.4% increase in July new home sales reported two days ago, and the 2.0% increase in July existing sales reported last week.
If you are looking for a new home, Epic Development is currently building in Brookhaven, Grant Park, Old Fourth Ward, Ormewood Park, Reynoldstown, Riverside and Sandy Springs.
Click Here for our Available Homes For more information, contact Scott Eaves at (404) 518-3820 or scott@epicdevelopment.com