Pending, closed home sales in B.R. continue steady rise

From the Baton Rouge Business Report:

While the National Association of Realtors reports pending sales across the United States stumbled for the first time this year during April—with its index off 5% compared to March, though up 14% over April 2011—the Greater Baton Rouge Association of Realtors says 39% more sales were inked in the eight-parish region in April on the year. GBRAR President Linda Gaspard says it's "more evidence that the Greater Baton Rouge area housing market continues to strengthen. Area realtors are seeing the increase in business, and it's very exciting to know this market is performing so well." One-third of the way through the year, 2012 sales were at 2,219, up 18.5% over the 1,873 sales recorded through April last year, according to GBRAR. That's also slightly better than the 2,128 homes sold through April in 2010 and the 2,003 sold in 2009. The 2,535 home sales in 2008 are 12.5% better than this year's figures through April. Though last month's final figures were not yet available as of press time, May is looking to have been another strong month in the Baton Rouge area. Early reports from GBRAR show sales up nearly 15% over the 585 sales on the month last year, and that number is likely to climb when the final tally is in. The GBRAR notes that all the statistics indicate increases in pending and closed sales will continue in coming months. The 39% increase in pending sales during April is particularly promising, as home sales are typically closed a month or two after they're signed, meaning monthly sales figures should continue to be positive into the summer. —Steve Sanoski