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August Rocked When It Came To The Housing Market

Click to expand. Image from RBI.

Well look at that. August ended with the highest number of signed contracts in four years. Things are slowing down compared to a few months ago, but that is typical for this time of year. In reality, things are speeding up when you look at year over year trends. In fact, signed contracts for August 2011 were up almost 20% compared to August 2010, but the report's author, Jonathan Miller, points out we can't get too carried away with ourselves. Last August's sales were artificially low given the tax credit frenzy earlier in the year. However, at least some part of that twenty percent increase can be attributed to the fact that things are looking good for DC.

· RBI Pending Sales Index: Summer Season Ends With Most Active August In Four Years [RBI]