Pending Homes Sales Rise â€“ More Signs of Recovery
March's pending home sales rose 4.1% to 101.4 from the 97.4 it was in February. This marks the highest index we've seen since April of last year, which was 111.3, signaling that the market is recovering. This time last year, the Pending Home Sales Index was 12.8% less than it is now, predicting good results for Q2.
According to many economic experts, 2012 is predicted to be the year for housing recovery. With the current housing market turning the corner, the increase in home sales is bringing inventory down, creating balanced conditions around the country. If conditions continue to move in this direction, we can be sure to see a rise in home prices as the year continues.
For more information on March's numbers, check out this article on Realtor.org.