Tuesday, May 29, 2012
More buyers signed contracts to buy existing homes in March than the previous month, according to a monthly survey just released by the National Association of Realtors. The Pending Home Sales Index rose 4.1 percent from February and is now 12.8 percent higher than March of 2011.
“The housing market has clearly turned the corner,” said NAR chief economist Lawrence Yun in a release. “Rising sales, which are bringing down inventory and in turn creating much more balanced conditions around the country. This means home prices will begin rising in more areas as the year progresses.
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