Pending Home Sales Pickup After Rough Winter

first_imgHome / Daily Dose / Pending Home Sales Pickup After Rough Winter Tagged with: Home Sales Lawrence Yun National Association of Realtors Pending Home Sales  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Headlines, Market Studies, News Related Articles Share Save Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago April 28, 2014 767 Views Following months of stagnancy, the National Association of Realtors’ (NAR) measure of pending home sales rose in March, the group reported.According to the latest release, NAR’s Pending Home Sales Index (PHSI) rose to 97.4 last month, up 3.4 percent from February’s upwardly revised 94.2. It was the first real pickup in the last nine months, the association said.NAR’s chief economist, Lawrence Yun, said the increase was expected with the end of last season’s severe weather.“After a dismal winter, more buyers got an opportunity to look at homes last month and are beginning to make contract offers,” Yun said. “Sales activity is expected to steadily pick up as more inventory reaches the market, and from ongoing job creation in the economy.”Yun’s optimism matches forecasts from other industry analysts, who continue to project a rebound in spring and summer despite a poor early showing for home sales.Compared to last year’s more active season, pending home sales remain down 7.9 percent; it remains to be seen whether the latest report—which is based on contract signings, not closings—will translate to a substantial increase in final sales figures over the remainder of spring. For the entire year, NAR forecasts existing-home sales numbers of 4.9 million, below the nearly 5.1 million recorded last year.At the regional level, pending sales were up in the Northeast, the South, and the West, rising 1.4 percent, 5.6 percent, and 5.7 percent, respectively. The Midwest’s PHSI slipped 0.8 percent, meanwhile. The Week Ahead: Nearing the Forbearance Exit 2 days ago Home Sales Lawrence Yun National Association of Realtors Pending Home Sales 2014-04-28 Tory Barringer Pending Home Sales Pickup After Rough Winter The Best Markets For Residential Property Investors 2 days ago Previous: Allendale County Bank Closes, Will Reopen As Palmetto State Bank Next: $60M Residential Loan Portfolio Sold through MountainView Subscribelast_img