March pending home sales index
Pending sales of previously owned homes from March of 2009 to March of 2010 rose 21.1%, showing continued strength in the housing market.
The National Association of Realtors said its Pending Home Sales Index, which is based upon contracts signed in March, increased 5.3% on a monthly basis – building on the prior month’s revised rise of 8.3%.
Keep in mind every real estate market is unique and although the NAR pending home sale index is up your market may vary. The trending theme seems to be a real bottom being established for real estate which is a breath of fresh air for everyone. Stabilization is the key to recovery and I think we’re see that in the last 3 – 6 months of real estate data.
