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Pending home sales have increased for the fifth consecutive month, according to the National Association of Realtors (NAR). This is the first time in six years, since 2003, that sales have seen this kind of streak. In fact, July 2009 saw existing home sales rise 7.2%, the largest one-month increase ever.

The NAR chief economist, Lawrence Yun, states (what we already know) that historically low mortgage interest rates, affordable home prices and the large selection of homes on the market is encouraging buyers. First-time homebuyers taking advantage of the stimulus $8000 tax credit has given a terrific boost to lower priced homes.

Do you have any questions about the real estate market in Redding, Anderson, Cottonwood, Happy Valley and surrounding areas? Contact me at Jeanette@JeanetteGuiducci.com.

Activity for pending home sales has risen for the past 6 months according to the National Association of Realtors. Yeah…. Not that we will wake up tomorrow and have everything “normal” again, but it is so refreshing to hear something positive about the economy.

In the Shasta County MLS, our inventory has dropped to approximately 1357 active single family home listings from a high of over 2000 a year or so ago. This is partly due to increased pending sales activity. June 2009 had 197 contracts; July 2009 had 216; and August 2009 had 270. A year ago, the pending sales activity in June 2008 was 187; July 2008 was 181; and August 2008 was 174. So, in 2008 the sales activity was dropping as we progressed through the summer and in 2009 it is increasing over the same period.

 Currently we have 495 total pending contracts. The year to date closed sales of residential homes is 1211, which is almost even with the 2008 closed sales of 1205 for the same period. But, with the pended contracts increasing, we should be looking at a higher number of sold homes in 2009 over 2008.

Welcome to Jeanette Guiducci’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in the Redding area.

 Visit my website at http://www.JeanetteGuiducci.com. Sign up for the Market Snapshot where you  will get an updated  monthly report on market statistics, real estate sales, community info, etc.