pending home sales

Pending home sales picking up, still down from 2013

April 28, 2014
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pending home sales nar Pending home sales picking up, still down from 2013

Pending home sales are improving

(REALUOSO.COM) – According to the National Association of Realtors, pending home sales rose in March, representing the first gain in the past nine months of stagnant activity, rising 3.4 percent to 97.4 percent from an upwardly revised 94.2 in February, but is 7.9 percent below March 2013 when it was 105.7.

Dr. Lawrence Yun, NAR chief economist, said a gain was inevitable. “After a dismal winter, more buyers got an opportunity to look at homes last month and are beginning to make contract offers,” he said.

“Sales activity is expected to steadily pick up as more inventory reaches the market, and from ongoing job creation in the economy,” Dr. Yun forecasts.

Regional performance varied

While pending home sales are up for the month and down for the year, regional performance is equally mixed…

bar Pending home sales picking up, still down from 2013
bar Pending home sales picking up, still down from 2013

Tara Steele is the News Director at AgentGenius, covering real estate news, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, she frequently checks her email, simply click the link below.