The housing market continues its slow climb to recovery as further positive signs were seen March. The National Association of Realtors Pending Home Sales Index was up at 94.1 from 89.5 in February. The index is a leading indicator for the housing sector based on pending sales of existing homes. The March increase brings the index to its highest point since November 2010.
“Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrated the market is recovering on its own,” said Lawrence Yun, NAR chief economist.
“Locally, we are seeing the same improvement,” said Ken Anderson, President Coldwell Banker Evergreen Olympic Realty. “Pending home sales are up 14.4 percent since February. This increase bodes well as we enter what is typically the busiest time of year for housing sales.”
To read more please visit the National Association of Realtors.
