Pending Home Sales Increase in March

After months of stagnant activity, pending home sales rose in March, marking the first gain in the past nine months, according to the National Association of Realtors®.

NAR’s 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 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.”

The Pending Home Sales Index in the Northeast increased 1.4 percent in March, but below the pace a year ago. images

 

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