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May 4, 2010

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Pending Home Sales Jump 21.1 Percent

by Bob Schwartz
Home sales

Home sales

The National Association of Realtors just reported the pending home sales index rose a seasonally adjusted 5.3% in March, and was up 21.1% compared with a year earlier.

For March sales contracts rose 12.7% in the South, 1.9% in the West and 1.2% in the Midwest. Contracts declined 3.3% in the Northeast.

A large part of this rise was supported by the Federal tax credit which just ended on 4-30-10. There is a California tax credit for home purchasers, but it is expected to be over-subscribed within a few months.

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1 Comment
  1. Noel
    May 10 2010

    Here in New Zealand the annual property value increase to April was 6%.

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