Detached single family residential sales are up 1% in June 2009 over the previous year! This according to the Mainstreet Association of Realtors which analyzed the data of about 120 communities in the South and Western Suburbs of Chicago.
One percent may not seem like a lot… but when you consider this is the first time since December 2006 that this has happened, it’s very good news for real estate. The $8,000 first time buyer credit is probably helping to spur that.
On another positive note, pending sales are up over 40% from last year at this time. This is the 7th consecutive month of year over year increases in properties under contract. Of course, you would think that would translate to many more sales… but, I’m guessing that many of these properties are short sales (which may take a long time, or… may never close)
