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.
Theresa Springer’s Blog
Pending Home Sales Jump Unexpectedly
April 5, 2010
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