Pending home sales have risen slightly after a drop following the end of the Buyers Tax Credit. According to Realtor Mag online, "The Pending Home Sales Index, a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1 percent below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months."
Although this is good news, it doesn't mean that the recovery will happen overnight. The housing market will take time to recover. For buyers in the Broken Arrow, OK area, this means the ability to get a better deal on a home. These great deals combined with today's low interest rates could mean the deal of a lifetime for many buyers. Broken Arrow sellers need not be discouraged, however. Working with an experienced Realtor and being realistic and patient will make the process go much smoother and faster.
To buy or sell a Broken Arrow, OK area home, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.
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