Hillsboro Office 217-532-2525 | Litchfield Office 217-324-4663

Central IL Homes for SaleCentral IL Homes for Sale

  • Home
  • Search
    • Advanced Search
    • Hot Property Alerts
    • Map Search
    • Upcoming Auctions
    • Address Search
    • Trending Searches
    • My Account
  • Featured
    • Our Featured Properties
    • Our Featured Auctions
    • Open Houses
    • Virtual Tours
    • Current Solds
    • Schools
  • Areas
    • Hillsboro
    • Litchfield
    • Coffeen
    • Witt
    • Nokomis
    • Taylor Springs
    • Irving
    • Panama
    • Donnellson
    • Raymond
    • See All
  • Buy
    • Mortgage Calculator
    • Home Buyer Checklist
    • Local Links
    • Resources
  • Sell
    • What’s Your Home Worth?
    • Selling your Home at Auction
    • Seller Tips and Tools
    • Marketing Your Home
  • Rent
    • View all Rentals
    • Landlord List
  • Auctions
    • Upcoming Auctions
    • Selling your Home at Auction
    • Find out More!
  • Appraisals
  • Contact
    • Contact
    • Agents
    • Client Reviews
    • Blog

Pending Home Sales Post 20th Consecutive Month Of Annual Gains

Pending Home Sales IndexThe National Association of REALTORS® (NAR) reports that the Pending Home Sales Index fell 4.3 percent in December as compared to the month prior. The index now reads 101.7.

The Pending Home Sales Index measures the number of U.S. homes that have gone “into contract”, but have not yet closed. The report is based on data collected from local real estate associations, and from national brokers.

Despite December’s drop, however, the annual rate at which contracts for a home purchase were drawn increased 6.9 percent from one year ago, and marked the 20th consecutive month of annual purchase contract gains.

NAR reports that 80% of homes under contract are closed with 60 days, with the majority of the remained homes “sold” within months 3 and 4.

Analysts believe that December’s Pending Home Sales Index drop is not a result of a weakening housing market. Rather, it’s a function of a falling national home supply; in particular, a shortage of homes in the West Region offered a prices under $100,000.

The national housing inventory is currently at an 11-year low. However, regionally, results varied :

  • Northwest : -5.4 percent from November; +8.4 percent from one year ago
  • Midwest : +0.9 percent from November; +14.4 percent from one year ago
  • South : -4.5 percent from November; +10.1 percent from one year ago
  • West: -8.2 percent from November; -5.3 percent from one year ago

Although December’s Pending Home Sales Index dropped as compared to November, the year-to-year growth of pending home sales suggests a broader improvement in the U.S. housing market. Furthermore, the index is a strong indicator of existing home sales, which means that this season’s home sales should outpace those from 2012.

The Pending Home Sales Index is bench-marked to 100, the value from 2001, which was the index’s first year of existence. 2001 was considered a strong year for the housing market so last month’s 101.7 is considered a positive measure for the housing market.

Analysts project a strong Spring market in Montgomery County and nationwide.

Posted in: Blog Tagged: NAR, Pending Home Sales Index, PHSI

Search Smarter

Did you know the hottest homes for sale in Hillsboro often sell within days of being listed? Don’t miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

New Property Alerts

As local Hillsboro Real Estate Agents we also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact us at your convenience. There is no obligation and or pressure… we hope to hear from you!

Post navigation

« What’s Ahead For Mortgage Rates This Week : January 28, 2013
How To Paint Your Home’s Exterior Walls »

Contact Us Now



(217) 532-2525 Hillsboro Office
(217) 324-4663 Litchfield Office

info@mcrealty.net
Hillsboro Office

551 S. Main St.
Hillsboro, IL 62049

Litchfield Office

410 N Monroe St.,
Suite 100
Litchfield, IL 62056

Hillsboro Company License #478.025162
Litchfield Company License #477.012410

Follow Us Now!


Quick Search Tools

  • Easy Search
  • Advanced Search
  • Address Search
  • Upcoming Auctions
  • Home Valuation
  • Map Search
  • My Account
  • Listing ID Search
  • Contact

Chat with us Now!

Click here to visit our Facebook page to chat with us now!

© 2025 · MCR Realty Professionals, Inc. · 217-532-2525 Hillsboro Office · 217-324-4663 Litchfield Office · MCR Agent Office · Agent IDX Login · Sitemap · IDX Sitemap · IDX Sitemap · Privacy Policy · Terms of Service · Hillsboro IL Homes for Sale
Disclaimer - All Rights Reserved by MCR Realty Professionals, Inc.

AREAS WE COVER:

62049, 62089, 62056, 62017, 62075, 62094
Hillsboro, Litchfield, Coffeen, Nokomis, Witt

Log in · Real Estate Websites by Real Estate Websites by YourSiteNeedsMe.com