The National Association of Realtors® reports pending home sales improved for the second straight month in April. The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 0.4 percent to 97.8 in April from 97.4 in March, but is 9.2 percent below April 2013 when it was 107.7. NAR chief economist Lawrence Yun expects an gradual uptrend in home sales. Higher inventory levels are giving buyers more choices, and a slight decline in mortgage interest rates this spring is raising prospective home buyers confidence, he said. An uptrend in closed sales is expected, although some months will encounter a modest setback.
Posted on: Mon, 23 Jun 2014 03:05:06 +0000