More buyers signed contracts to buy existing homes in March than the previous month, according to a monthly survey just released by the National Association of Realtors.
The Pending Home Sales Index rose 4.1 percent from February and is now 12.8 percent higher than March of 2011.
The housing market has clearly turned the corner, said NAR chief economist Lawrence Yun in a release. Rising sales are bringing down inventory and creating much more balanced conditions around the country, which means home prices will be rising in more areas as the year progresses.
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The Pending Home Sales Index rose 4.1 percent from February and is now 12.8 percent higher than March of 2011.
The housing market has clearly turned the corner, said NAR chief economist Lawrence Yun in a release. Rising sales are bringing down inventory and creating much more balanced conditions around the country, which means home prices will be rising in more areas as the year progresses.
News Headlines