January’s pending home sales report was posted earlier this week by NAR, and they are reporting that pending home sales are up.
Everyone knows that real estate is local – so here’s what’s happening in the Blacksburg/Christiansburg/Radford area with regards to pending sales.
Maybe NAR’s on to something. In the chart above, Blacksburg is in blue, Christiansburg is in green, and Radford is in yellow. Over the last six months, pending home sales in Blacksburg and Christiansburg have both trended upwards, while Radford has remained relatively flat. Of course, this doesn’t take into account those properties that have gone under contract and not closed for some reason, perhaps for financing or inspection issues, but as far as properties going under contract it appears that the feeling I’ve had – that the market is picking up in some ways – seems to be true, at least over the last six months.
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