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January 21st, 2008 11:42 AM by David W. Welch
I hate to sound like a broken record, but I am really encouraged by what I am seeing with the pending sales. This is the best indicator of where the Orlando real estate market is going. Up apparently! Every day I check the pending sales and the number is increasing. This is an indication of where closed sales will be at the end of the month. Right now pending sales are at 1,663. This number is up by about 140 compared to the beginning of January. If the pendings continue to rise like this, we could see closed sales in the 1,100 range for this month, and 1,200 for February.
If you look back at my blog davidwelch.com/myblog over the last couple of weeks, you will see my prediction for sales in the 1,400 range by summer. The rise in pendings is actually a little better than I expected, so we may see even better sales.