February Pending Home Sales Rise

The Pending Home Sales Index, a forward-looking indicator for the U.S. housing market, rose 2.1% to 90.8, based on contracts signed in February.  Lawrence Yun, NAR chief economist, says it’s important to look at the broader trend. “Month-to-month movements can be instructive, but in this uneven recovery it’s important to look at the longer term performance,” he said. “Pending home sales have trended up very nicely since bottoming out last June, even with periodic monthly declines.  Contract activity is now 20% above the low point immediately following expiration of the home buyer tax credit.”  Read article:
http://www.realtor.org/rmodaily.nsf/pages/News2011032801
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About dherries
Dave and Sally Herries and The RealtyColorado Team - Real Estate Broker serving the metro-Denver area. Offering properties in urban, sub-urban and rural areas. Our mission statement is "Enriching lives through real estate."

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