California Markets Lead Dramatic Rise in Home Sales - | ArmandoMontelongo.com

Armando Montelongo Team Blog

Completed, Pending Home Sales Rise in May

Completed and pending home sales both rose in May, led by strong showings in California markets, according to a new report.

The inaugural Redfin Real-Time Price Tracker showed completed sales were up by 7.4 percent, with an increase in 18 of the 19 markets in the survey. The only market where sales were down was in Phoenix, where sales were limited by the lack of houses for sale.

Pending home sales were up by 12.2 nationally in the last 12 months. Pending sales, in which houses were under contract but the sale was not yet closed, increased dramatically in several California markets, as well as in Denver.

Here is a look at the markets in the Redfin survey, with the one-year change in completed home sales and pending home sales:

What are you seeing in your investment markets? Are sales rising? Feel free to share with fellow investors: