Pending Home Sales Rose in March

The Sarasota Herald Tribune reported a story about the March pending home sales in the Sarasota area. You can read it here. Here are a few highlights of the article:

Pending home sales rose by an unexpected 3.2 percent in March, adding to mounting evidence in Southwest Florida that the housing market might be turning the corner.

The national and regional results mirrored what parts of Southwest Florida has been experiencing. Pending sales for the territory covered by the Sarasota Association of Realtors numbered 817 in March.

The Sarasota Multiple Listing Service showed 2,400 single-family homes under contract to be sold, along with about 720 condominiums.

And the best highlight - a quote by me ;-) -

"Prices have come down, and buyers are jumping in," said Marc Rasmussen, an agent with Michael Saunders & Co. "A lot of people that have been waiting on the sidelines for a long time are getting in now."

The Sarasota Multiple Listing Service showed 2,400 single-family homes under contract to be sold, along with about 720 condominiums.

April and May traditionally have been a strong season for sales in Sarasota-Bradenton. As the season closes, buyers get motivated to take action.

"A lot of people start their search early in the season and decide for sure on what they want towards the end," Rasmussen said.

The driving force this time is price, he said. As sellers adjust themselves to the realities of the current market, buyers are responding.

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