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Pending home sales in region up 9.1%, report says

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By Sam Spatter
Wednesday, Dec. 5, 2012, 1:52 p.m.

Pittsburgh's strong housing market continued in November as pending sales rose 9.1 percent over the same month last year, according to a report released on Wednesday.

There were 2,646 houses placed under sales agreements compared to 2,425 a year ago, said the West Penn Multi-List Inc.

Average home price reached $157,050, up 7.8 percent over $145,641 a year ago, but the number of houses listed for sale, at 2,123 was down 1.12 percent from the 2,147 a year ago.

”Buyers are taking advantage of more than appealing interest rates, and sellers are benefiting from the active market, smaller than normal inventory of homes for sale and increasing average sales prices,” said Barbara Kohl, West Penn's executive vice president.

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