Every month we know there are tons of new reports out there talking about the number of foreclosures, along with the number of homes sold, homes listed, and homes that were sold in a short sale. With all the numbers being calculated it might be interesting to see how many home sales are pending. The number of home sales pending more than likely grows each holiday season, and especially this year.
Sales fell when the tax credit expired, but with the rate of joblessness remaining so high it makes everyone wonder how much sales will decrease, or for that matter how they could possibly increase. Home sales will probably stay about the same in the coming year unless there are some dramatic changes, but the number of pending sales probably did shoot up over the course of November. As Thanksgiving approaches, then with Christmas following people are not motivated to pack and move, nor do they want to spend more, so many will wait until after the holidays to start spending money on appraisals and inspections leaving tons of pending sales out there.
When it comes to short sales, those sales could take quite some time, but only time will tell overall how home sales will move in 2011.
-Mayer Dallal
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