Pending Home Sales Increase in March - |

Armando Montelongo Team Blog

Pending Home Sales Increase in March

Pending home sales in March were up 4.1 percent for the month and 12.8 percent from March 2011, according to a new report.

The National Association of Realtors’ Pending Home Sales Index tracks the signing of contracts for home purchases and is considered a forward-looking index of sales.

The index, which is at 101.4, is at its highest level since April 2010. A level of 100 or higher – established as a baseline in 2001 – is considered healthy.

Here is a regional breakdown of the report, with the index number, change from February and change from March 2011:

What do you think? Does it seem like sales are inching upward? Tell us from your perspective: