February saw the largest pending home sale increase in DC in almost a decade – what’s going on?
In some well deserved good news, our market received a nice bump in confidence by the latest article showing a gigantic jump in pending home sale numbers. Any way you look at it, this is great news for our market and reflects the on the ground frenzy we are currently experiencing. Pending home sale volume increase doesn’t necessarily translate into value increase – at least not yet – so don’t get ahead of yourself.
To turn values around and see positive territory again, we need to see several months of impressive pending home sale increases. I’m hopeful, and yet keeping my expectations realistic. This bump may be as a result of built up demand from an extremely slow fall and winter season. Or it might be the start of a new trend. Keep your fingers crossed!
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