The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007 when it was 100.7.
This is a good sign and one that just may be the most optimistic we have seen in recent months. Since we are still at a stand still with investory levels at highs and demand low, we hope as realtors we can see a significant movement in the time to come. Hoboken and Jersey city statistics have reflections this increase in the existing home sale sector