Greenwich Market Watch

What you need to know

According to a recent Discover Home survey, 83% of home buyers or respondents have been pre-qualified for a mortgage.

The new normal

The Pending Home Sales Index (PHSI) decreased slightly (meaning 1.1%) in June as compared to May of this year. It is also 7.3% below a year ago.

Checking semi-annual stats

The inventory of single-family homes in all towns of Greenwich was up slightly, by 3%, for the first half of 2014 as compared to the first half of 2013.

What’s affecting housing sales?

The Commerce Department reported last week that home construction across the U.S. fell in June due to wet weather in the South. However the good news is that analysts believe this is a temporary derailment to the recovering real estate market.

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