The National Association of Realtors recently said that pending home sales were up slightly in December for the 3rd consecutive month, according to their Pending Home Sales Index. In addition they predict that in 2018, existing-home sales and price growth will moderate primarily due to the new tax law’s expected impact in areas with high-cost housing markets.
“Pending sales edged up in December and reached their highest level since last March…Another month of modest increases in contract activity is evidence that the housing market has a small trace of momentum at the start of 2018…Jobs are plentiful, wages are finally climbing and the prospect of higher mortgage rates are perhaps encouraging more aspiring buyers to begin their search now.” Said Lawrence Yun, NAR’s chief economist.
Click here to read the full release at the NAR.
