Pending Home Sales Jump Unexpectedly

Pending home sales rose 8.2 percent in February, according to the National Association of Realtors. NAR’s chief economist, Lawrence Yun, said the improvement was a hopeful sign and may signal the early stages of a second surge of home sales this spring, adding that March’s data may demonstrate additional improvement because of the home-buyer tax credit’s April 30 expiration date. Anecdotal evidence suggests the $8,000 tax credit for first-time buyers has been more successful than the $6,500 credit offered to repeat buyers. More here and here.

Filed under: Uncategorized, Housing Industry, News, Pending Sales, Real-Estate, Tax Credit