Pending Home Sales At A 3-Year High

Pending Home Sales At A 3-Year High

Posted in the Minneapolis Forum

Obama Economy Recovery

Minneapolis, MN

#1 Apr 29, 2013
Pending Home Sales At A 3-Year High

Source: Associated Press

WASHINGTON (AP) The number of signed contracts to buy homes rose in March to the highest level in three years.

The National Association of Realtors says its seasonally adjusted index for pending home sales rose 1.5% to 105.7. That's the highest since April 2010, when a homebuyer's tax credit boosted sales. It's also above February's reading of 104.1.

Signed contracts are 7% higher than a year earlier. There is generally a one- to two-month lag between a signed contract and a completed sale.

Still, sales are being held back by limited supply. Sales of previously occupied homes dipped in March to a seasonally adjusted annual rate of 4.92 million, from 4.95 million in February.

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More signs of an Obama economic recovery

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