Grayhawk homes are flying off the shelves. Pending home sales climbed 6.7 percent in the U.S. this May. The rise of interest rates could be what pushed uncertain homebuyers to bite the bullet and make a purchase.

The Pending Home Sales Index rose 12 percent since last year and about 6.7 percent from April to May, according to the National Association of Realtors. However, a shortage of homes for sale is still dragging down the market as it fails to respond to demand.

The pending sales have had the highest rate in the west – also where home prices have increased the most.

Pending home sales in the Northeast have remained consistent monthly, but are up about 14 percent higher from last May. While in the Midwest sales went up about 10 percent monthly and up 22 percent from last May. The South had a nearly 3 percent monthly gain and is about 12 percent higher than it was last year. The West had the highest monthly increase of 16 percent but is up only 1 percent from last May. It is suspected that this is due to the small percentage of homes for sale.

Please view our current market trends page for more information.

I invite you to view Grayhawk homes for sale. I look forward to answering your questions and scheduling a time for you to visit properties for sale.

 

Carmen Brodeur JD
Realtor
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260
(602) 791-0536
Carmen@TopScottsdaleHomes.com
www.GrayhawkRealEstate.com