A Spring Surge??

The National Association of Realtors reported yesterday that pending home sales rose in February. One possible reason for this is in response to the home buyer tax credit. The data reflects contracts and not closings (which usually occur with a lag time of one or two months).

This information is drawn from the NAR Pending Home Sales Index. The link below will take you to the full article. This is a national index, so does not reflect the exact state of Georgetown Real Estate. But it is an indicator which matches my own observations of our local market.

The PHSI in the Northeast rose 9.0 percent to 77.7 in February and is 18.9 percent higher than February 2009.


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