Pending home sales is a good indicator of the strength of a particular real estate market. The chart above from the National Association of REALTORS’ (NAR) Pending Home Sales Index, shows some interesting statistics. The (NAR) Pending Home Sales Index is “a forward-looking indicator based on how many units have gone under contract which will eventually result in closed sales. The higher the number of Pending Home Sales Index, the more sales are expected to close.
The latest Pending Home Sale index was released last week by NAR indicating that pending home sales dipped in June. This was especially evident here in Vero Beach real estate market as sales dipped in June of 2015 (see more details in this Vero Beach Real Estate Market Report for June 2015).
What Does This Mean To Vero Beach Home Buyers?
There is a lot of completion now for buyers of Vero Beach homes in some areas and price ranges. As prices continue to increase, buyers are having fewer choices so the time to act is now.
What Does This Mean to Vero Beach Home Sellers?
If you are waiting about listing your home for sale, don’t wait any longer since now is the time to move on with your plans of moving to another place. The supply of homes available for sale (inventory) is declining while demand for Vero Beach homes is increasing. Listing your home for sale now will give you the most exposure to buyers while competition from other sellers is diminishing.
The bottom line is that if you are on selling your Vero Beach house this year, now is a good time. And if you want to get the most out of that sale, call me at 772-532-0945 or complete the form below to request a my home selling guide and a non-obligation market evaluation of your home today.