News & Blog

From REALTOR® Magazine: Contract Signings Surge to Record High for November

Jan 05
In this unusually busy winter season for real estate, real estate professionals are working hard to quickly submit offers for clients. Though sales have slowed down slightly since the high levels seen in the fall, Lawrence Yun, NAR’s chief economist states, “The latest monthly decline is largely due to the shortage of inventory and fast-rising home prices…It is important to keep in mind that the current sales and prices are far stronger than a year ago.”
Compared to the same time last year, pending home sales are still up 16.4% and “all major regions are posting double-digit year-over-year increases.”
This winter season, we are seeing listed homes go under contract in less than a month on average, still due to buyers wanting to take advantage of the record-low mortgage rates we have been seeing.
Yun predicts that home sales will continue to perform strongly into 2021 and he predicts existing-home sales to increase by about 10% and new home sales to increase by about 20% in this new year.
To read the full article posted by REALTOR® Magazine, click here.
November 2020 market stats.

At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR®, visit our website at NorthEasternGroup.com.

North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.

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