The National Association of Realtors released the Pending Home Sales Index data today.<\/p>\n
NAR’s Pending Home Sales Index measures housing sales contract activity. A sale is listed as “pending” when a contract to purchase an existing home (single-family, condos, and co-ops) has been signed but the transaction has not closed. A signed contract is not counted as an actual existing home sale until the transaction closes.<\/p>\n
The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. It is designed to be a leading indicator of housing activity. In developing the model for the index, it was demonstrated that the level of monthly pending home sales parallels the level of closed existing-home sales in the following two months.<\/p>\n
From the release…<\/p>\n
Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season.<\/p>\n
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1 percent above March 2009 when it was 85.0; this follows an 8.3 percent increase in February. <\/p>\n
Regionally…<\/p>\n
The Northeast declined 3.3 percent to 75.1 but remains 27.2 percent higher than March 2009<\/p>\n
The Midwest increased 1.2 percent to 98.9 and is 18.5 percent above a year ago.<\/p>\n
The South jumped 12.7 percent to an index of 121.2, which is 28.3 percent higher than March 2009. <\/p>\n
The West index rose 1.9 percent to 99.9 and is 8.8 percent above a year ago.<\/p>\n
check the more info at the article below
\nhttp:\/\/www.mortgagenewsdaily.com\/05042010_march_pending_home_sales.asp<\/p>\n","protected":false},"excerpt":{"rendered":"
The National Association of Realtors released the Pending Home Sales Index data today. NAR’s Pending Home Sales Index measures housing sales contract activity. A sale is listed as “pending” when a contract to purchase an existing home (single-family, condos, and co-ops) has been signed but the transaction has not closed. A signed contract is not […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79,1],"tags":[120,137,12,121],"class_list":["post-333","post","type-post","status-publish","format-standard","hentry","category-articles","category-residential","tag-home-sales","tag-national-association-of-realtors","tag-reo","tag-single-family"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=\/wp\/v2\/posts\/333"}],"collection":[{"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=333"}],"version-history":[{"count":7,"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=\/wp\/v2\/posts\/333\/revisions"}],"predecessor-version":[{"id":370,"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=\/wp\/v2\/posts\/333\/revisions\/370"}],"wp:attachment":[{"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.nyonlinerealty.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}