January Pending Home Sales

Published 'Monday, February 27th, 2012 at 11:31 am
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Pending home sales for January 2012 were up 2.0% from December 2011. The reading of 97.0 was also the highest reading since April 2010, during the home buyer tax credit. Year-over-year pending home sales were up 8.0%.

Pending home sales is an index that measures housing contract activity. It is based on signed real estate contracts for existing single-family homes, condos and co-ops. A signed contract is not counted as a sale until the transaction closes.

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Brendan Fontaine is a branch manager of Guaranteed Home Mortgage Company, Inc. in his hometown of Auburn, Maine. In 2006, he served as a mortgage broker for a large firm focused on mortgage refinances. Within his first year, he was promoted to mortgage sales manager, and shortly thereafter became a co-owner. In 2007, at the height of the subprime mortgage market collapse, Brendan transitioned his company to a mortgage banking platform. Since 2006, he has served as a “Producing” Branch Manager of his own mortgage office with several parent corporations and has consistently grown his branch production. Mr. Fontaine received a Bachelor’s degree in International Communications from Ithaca College in 2000. He received a Juris Doctorate and a Master of Intellectual Property degree from UNH School of Law (formerly Franklin Pierce Law School) in 2003. Mr. Fontaine is currently a member of the Androscoggin Valley Board of Realtors, the Androscoggin Valley Chamber of Commerce, and the State Bar of New Mexico.

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