In Washington, United States lots of Americans have decided to purchase their homes in July that leads to the signing of contracts. Although there is a shortage of listings on the market, it became a stronger sign of demand for home ownership.
The US Pending home sales index increased from 1.3 percent to 111.3 in July which was said to be the highest reading starting April this year. Also, in the Northeast the signed contracts increased as well as in the West and South.
The sales on Midwest are still dipped according to the National Association of realtors, last Wednesday.
This year, housing has a consistent rebound in their prices and sales, although there are few numbers of properties being listed for sale. They still faced different potential challenges for it. Sales went from 5.8 percent from the year after this up to 2.3 million. It only means that they triggered the Great Recession for almost nine years ago even though now, there are lots of buyers who are willing to pay higher prices in order to make reasonable offers to recover the depth of sales.
It is said to be that the barometer of future purchases are pending sales contracts. Normally, after a month or two after the signed contract the sale is already completed.
According to Realtors last week, purchases of homes in July hit the inventory shortage from 3.2 percent to 5.39 million homes.
In July, the median home sales went to $244,100 up to 5.3 percent started last year