Pending home sales were down December 2012. Pending - those homes that entered escrow with a "pending status". Pending meaning, a pretty good chance to close escrow - Which is different than "sold homes".
However, we have seen this "fact" posted up and all around the internet and the "real estate websites". Is it something to be concerned about? Is this an indicator of something "on the cusp" of happening related to the Real Estate world?
No - It's just December. December seems to slow down as far as people writing offers on residential real estate. However, when you look at the numbers of Closed Escrows and Sales you will see that those numbers increased in 2012 versus 2011.
Remember, December, is the month of Christmas. We just polished off Thanksgiving and are headed into Christmas - there are only so many shopping days. Also, you have January 1st - another holiday - So with three holidays being in such close succession, coupled with most of the "executive staff" being able to take their vacations during the last couple weeks of December, the "pending" market slows.
Plus - 2012 - while increasing in amounts with relation to home prices - it was not a "home run" year for real estate either. Analysts think 2013 will be more of what a "home run" year in real estate may be considered. - time will tell :)
Santa Clarita Valley real estate options: We "Will" finish our Market Updates today via our Main Website resource and on our Top Santa Clairta listing agents blog. You will be able to gain access to these updated reports and our "view" of the local SCV market by heading over to the top Website for Santa Clarita real estate and typing into the MaCBoX the words "Market Updates". (without the quotes) After you do, you will see where we are currently from last week to this week.
When January finishes off in a couple of days, and after I compile the latest real estate data for the Santa Clarita Valley Cities - we will be able to get a grasp of where we are currently, as compared to December 2012. (as a local real estate market - of course). If you want to check out our market Updates - click here
We just finished our FHA approved complexes report - There are 16. In all of the Santa Clarita Valley Cities and 4 of those complexes are for Senior Citizens, over 55 only. We posted that up at our Relocation Blog. Click to visit our REMAX Relocation to and from Santa Clarita Blog
12 new listings hit the market in the Santa Clarita valley cities during the past 24 hours. You can see all of those by heading to our Santa Clarita real estate website - click the "REMAX logo in the margin - and then type the word "new" into the macBoX at the top of the Real Estate Website's Screen. (no quotes).
We also had the following Santa Clarita real estate market activity within the past 24 hours. 7 Price changes - most were increased because of the banks having intel that the "short sales" had a higher FMV - Fair market value than the agent that secured the listing thought. click here to see what "buying a listing" means
Be safe - reach out to us when you are ready and we will be here for you too. We are REMAX of Santa Clarita's Paris911 Team of Real Estate professionals.