The National Association of Realtors has just released their Pending Home Sales Index for the month of June and it shows a marked improvement over the previous month of May.

knoxville tn homes for sale

June’s numbers of pending (sold, but not yet closed) home sales rose 5% over May’s which is regarded as a positive signal for residential sales.

“Lawrence Yun, NAR senior economist, said it is encouraging that the increase occurred in all four major regions. “However, it is too early to say if home sales have already passed bottom,” he said.  “Still, major declines in home sales are likely to have occurred already and further declines, if any, are likely to be modest given the accumulating pent-up demand.””

Annual figures are more closely related to market performance than month to month numbers but as the year rolls on the month to month figures take on more meaning and become more valuable as an indicator.

Good news for both buyers and sellers.

Good for buyers because there is a large selection of homes for sale in my area of Knoxville, Tennessee in most all price ranges AND interest rates remain at historic lows.

Good news for sellers because buyers are re-entering the market where they have been very absent in some areas of the country.

If you’re a buyer or seller in the greater Knoxville area you can see all Knoxville’s Realtors listings for sale and get some good buying and selling tips on my website: KnoxvilleMLS.com