Pending home sales up again (6-month high).

[Nick Gromicko]

Contract signings rose 6% to a 6-month high. That signals higher home resales in June.

Source: National Association of REALTORs.

[Nick Gromicko]

http://news.medill.northwestern.edu/...aspx?id=166138

[Gary Farnsworth]

Mortgage applications for May down to 13 year low. I have talked to several lenders, and home sales may be down double-digits for May. I had my worst May since 2001. Tough here in KC. Look for poor numbers for May soon. Sorry, I am just realistic here. There is not much to be positive about in KC.

[mnahrgang]

Originally Posted by gfarnsworth

Mortgage applications for May down to 13 year low. I have talked to several lenders, and home sales may be down double-digits for May. I had my worst May since 2001. Tough here in KC. Look for poor numbers for May soon. Sorry, I am just realistic here. There is not much to be positive about in KC.

St. Louis either... April was my best month ever, but May was half of last years... June is on track to be about half of last years too (and last year sucked.)

[ldapkus]

Slow here too. Website visits are down by 50%. Less visits, less calls. Preservation work is picking up though.

[Bob Elliott]

Originally Posted by ldapkus

Slow here too. Website visits are down by 50%. Less visits, less calls. Preservation work is picking up though.

Yeah , I want in.
How does Elliott/Dapkus Preservation sound.?

[Dominic J. Maricic]

Originally Posted by mnahrgang

St. Louis either... April was my best month ever, but May was half of last years... June is on track to be about half of last years too (and last year sucked.)

That has to be expected though. Everyone who was even considering a house rushed in April to get the tax credit. Next few months will be slow until things even out. I'm curious though as to how many other states like CA are offering their own tax credits. They're offering $10k credits here and most guys are still really busy.

[Bob Elliott]

Originally Posted by dmaricic

That has to be expected though. Everyone who was even considering a house rushed in April to get the tax credit. Next few months will be slow until things even out. I'm curious though as to how many other states like CA are offering their own tax credits. They're offering $10k credits here and most guys are still really busy.

I feel bad for cal guys when that runs out.
(rubber band effect kicked hard here)

[Dominic J. Maricic]

I don't think it'll be worse than any other state. The bad thing will be for those of us who live in California when tax season comes around and the state realizes that giving a credit actually means they won't have the money next April and all the housing prices will continue to go down anyways once it's over.

[James A. Levy]

Originally Posted by dmaricic

That has to be expected though. Everyone who was even considering a house rushed in April to get the tax credit. Next few months will be slow until things even out. I'm curious though as to how many other states like CA are offering their own tax credits. They're offering $10k credits here and most guys are still really busy.

NJ has one that just went through the assembly 66-8 for it. It is 15k over three years. The credit needs to see the senate and the Gov.'s desk yet. The plan is the credit will be first come first serve for one year after it is signed into law. There is a dollar amount,(that is why first come first served) but I don't have that figure.

[Nick Gromicko]

http://rismedia.com/2010-06-06/pendi...rge-continues/