The Pending Home Sales Index is used by the National Association of Realtors to be indicator of market activity and a snapshot of the overall health of the national housing picture.
This last month saw a tremendous surge in activity with the index rising 7.4% amongst a wave of increase activity bringing the index to its highest level in over a year! This comes after President Bush signed the $700 billion rescue package, the full effects of the Housing Stimulus bill are being felt as well as the nationalization of Fannie Mae and Freddie Mac. Buyers really have bargains out there, they have great mortgage deals as well as an economy on the turn around. Statistics show that house prices are predicted to grow 2-3% next year (2009) alone!
All the indicators are that 2009 brings stability in the economy and the housing markets which can start their normal trend upwards. So now may really be the best time to purchase a property for years!
If you are looking at purchasing a property in New Albany or the other central Ohio communities around the Metropolitan Columbus area then please contact The Raines Group for professional Real Estate advice. You can contact The Raines Group via their online contact form. You can visit their website on: www.therainesgroup.com where you can access a complimentary MLS Search facility