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What does pending mean? When an offer on a home has been accepted and is now under contract, it’s listed as “pending.” In other words, Lingscheit shares, if a home is pending it has “an ...
The successful sale of another house may be needed to finance the purchase of a new one. Appraisal contingency – Purchase of the real estate is contingent upon the contract price being at or below a fair market value determined by an appraisal. Lenders will often not lend more than a certain percentage (fraction) of the appraised value, so ...
The index for pending home sales increased just over 8% to 77.3 in December, according to data from the National Association of Realtors (NAR) released Friday. The month-over-month uptick was the ...
The National Association of Realtors (NAR) said on Wednesday its Pending Home Sales Index, based on signed contracts, rose 7.4% last month to 75.8 - the highest since March - from 70.6 in August ...
A contingent contract is an agreement that states which actions under certain conditions will result in specific outcomes. [1] Contingent contracts usually occur when negotiating parties fail to reach an agreement. The contract is characterized as "contingent" because the terms are not final and are based on certain events or conditions ...
Despite the March gain, pending home sales are still “in a fairly narrow range over the last 12 months without a measurable breakout,” NAR’s chief economist, Lawrence Yun, said in a release.
The South also recorded a monthly dip of 1.9% in pending sales in October. Only the Northeast saw a 2.7% gain in activity with sales under contract, but that was still down 6.5% from a year ago.
Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since the National Association of Realtors began tracking ...