The National Association of Realtors announced today that pending home sales are up. This is the fifth straight month of positive gains in pending home sales, this one significantly higher than expected. Great News? Good News? Neutral News? Bad News? Depends on your perspective.

 Great News Perspective – You have a home for sale or are contemplating putting your home on the market and now you see that the housing market is beginning to thaw out. Homes are actually getting acceptable offers to purchase.

Good News Perspective – You recently bought a new home. This means you probably bought at the right time. Values may start increasing as homes start to move. It also means you may have gotten the best price and the best interest rate.

Neutral News Perspective – You aren’t selling or buying and don’t really care. Not exactly true since the housing market has a direct effect on almost everything in the US economy. This was a trick question.

Bad News Perspective – Really, this should be called the “not good” news perspective. Here you have been waiting for the property values and interest rates to hit the bottom so you could jump in. May be that you missed it. As I have stated, the only way you know the bottom has been reached is when it starts back up. News like this has an effect of raising interest rates.

It isn’t too late. Rates are still excellent. Prices are still near the lows. If you are thinking about buying, don’t wait too long. Let’s get you pre-approved to buy the home that you want today. Call me at 541-342-7576/541-221-3455 Cell or e-mail me.