The National Association of Realtors (NAR) in it’s just released report said its pending home-sales index rose to 97.6 from a downwardly revised 90.2 reading in January.
“Pending home sales rose in February, potentially signaling a second surge of home sales in response to the home-buyer tax credit,” the NAR said.
“The rise in buyer contact activity may signal the early stages of a second surge of home sales this spring,” said Lawrence Yun, NAR chief economist.
“The healthy gain hints home prices are continuing to flatten,” he said. “We need a second surge to meaningfully draw down inventory and definitively stabilize home values.”
As a country we have taught the stupid to do the same in their own homes. So, the truth is people really only know what they have been taught. Ignorance. Let’s watch as this surge recedes.
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