December Weather Affects Pending Home Sales in Many Areas of the Country

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The National Association of Realtors’ Pending Home Sales Index is a forward-looking indicator that tracks contract signings, not closings. The index, which is released monthly, is a predictor of future existing-home sales.

In December, the index fell 8.7 percent from November’s downwardly revised total. Lawrence Yun, NAR’s chief economist, said unusually disruptive weather across large stretches of the country forced people indoors and prevented some buyers from looking at homes and making offers. According to Yun, rising home prices and lack of for-sale inventory are also to blame for the poor sales performance in December. Still, existing-home sales are expected to be at about the same level this year as last year, despite the fact that inventory is limited in much of the country. Prices, though still rising, are expected to moderate this year, gaining about 5.4 percent in 2014.

December and January are always slow months for real estate in Taos. Most people visiting Taos in the winter are here to ski, not to look at homes or condos. But they love their time here so much in the winter, many people call us in the spring, hoping to find their perfect ski condo or vacation home. Taos definitely leaves a lasting impression on visiters during every season. Lots of summer visitors staying in town look for condos or vacation homes out on the mesa. And of course those skiiers love to be in the mountains. Taos has such a variety of landscapes and recreational options, it’s easy to pick the place of your dreams.

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