The state of the real estate market has been a big topic over the last few months.  Some people believe the market is headed towards a big slowdown ... or even worse ... the bursting of the real estate bubble.

My opinion has always been one of a gradual equaling on the real estate market.  One that does not favor the seller or the buyer, but is an equal opportunistic market for all involved.

Below is an excerpt from a recent article published by The National Association of Realtors.  I hope you find it both informative and useful.  If you ever have a real estate related question, please do not hesitate in giving me a call. 

Pending home sales are higher, affirming the stabilization that is occurring in home sales, according to the NATIONAL ASSOCIATION OF REALTORS®.

The Pending Home Sales Index, based on contracts signed in December, rose 4.9 percent to an index of 112.4 from an upwardly revised level of 107.2 in November, but is 4.4 percent lower than December 2005.

The monthly gain was the biggest increase since March 2004 when the index rose 6.9 percent. A steady narrowing from year-ago readings has been observed since last July when the level of unsold housing inventory peaked at an all-time high.

David Lereah, NAR’s chief economist, says a moderate rise in existing-home contracts is a welcome relief.

“Some of the monthly gain may be weather related, but it appears buyers are becoming more comfortable, sensing the timing is good and that their local market has bottomed out,” he says. “I expect modest sales gains throughout the year, with what I believe are sustainable levels of activity. 2007 promises to be the fourth-best year on record.”

Brought to you by Randy Charlton of Century 21 Home Realtors.