November 2010 pending home sales holding flat

Today we released our November 2010 pending home sales report and for the first time in six months pending sales didn’t go down compared to the same month last year.  The same can’t be said for condos, which saw year-over-year declines.  However, this is the first time in five months that condo pending sales hasn’t been down by double digits.

Here are the highlights:

  • Single-family pending home sales were up less than 1.0% compared to Nov. 2009
  • Single-family month-to-month pending home sales were down 6.3% from Oct. 2010
  • Condo pending home sales were down 9% compared to Nov. 2009
  • Condo pending month-to-month home sales were down 8.0% from Oct. 2010

The National Association of REALTORS(R) (NAR) released its pending sales index last week.  On a national level, NAR reported a 10% increase from September to October.  You can read more or see a video with NAR Chief Economist Lawrence Yun by clicking the link above.

Finally, we’re sorry that we’ve gone so long without a post.  We’ll do our best to make sure that doesn’t happen again (or at least not any time soon…)

As always, we appreciate your feedback.  Do you agree with what our numbers show?  Are you seeing something different, please let us know.