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Positive signs abound for housing

Posted on 30 April 2013

The recovery in the housing market is continuing its slow and steady recovery. The most recent data point showed pending home sales rising by 1.5% in March which reverses the February decline. According to the National Association of Realtors the pending home sales index increased to 105.7 in March from the 104.1 it hit last month. This represents a solid 7% year-over-year increase for the index.
Overall, the association’s chief economist, Lawrence Yun, pointed out that “contract activity has been in a narrow range in recent months, not from a pause in demand but because of limited supply.” He sees closings ending up modestly as the year progresses. All of which points to continued modest gains for a housing market that’s been lackluster for the past few years………………………………………..Full Article: Source


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