NAR: Pending home sales rise, another signal market is recovering

March pending home sales rose 4.1 percent over February and are 12.8 percent higher than a year ago, according to the Pending Home Sales Index released today by the National Association of REALTORS®

NAR Chief Economist Lawrence Yun forecasts that 2012 will be a year of recovery for housing. First quarter sales were up and March’s strong pending home sale activity signals that the trend could continue into the second quarter.

“The housing market has clearly turned the corner.  Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.

This entry was posted in Consumer Information, Housing Market, Uncategorized and tagged by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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