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April Pending Sales Consistent With Seasonal Trends

Jonathan Miller has released his analysis of last month's area housing data and the number of signed purchase contracts was the second highest April since 2006. The only reason it wasn't the highest April since then is because of 2010's last-minute surge to get the first time home buyer's tax credit before the deadline. So, really, we should interpret this as pretty darn good news. Median sales prices are also up slightly since last month ($334K versus $320K for March). While the rest of the country is still freaking out we can relax a little. No, we aren't out of the woods, but the light at the end of the tunnel is getting brighter and brighter.

· April Signed Contracts Second Highest Since April 2006 [RBI]