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Tags: home sales | realtors

Pending Home Sales Inch Up, Gains Are Modest

Monday, 28 March 2011 12:33 PM

Pending sales of previously owned U.S. homes unexpectedly rose in February, a trade group said on Monday, pointing to a modest pick-up in home sales.

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in February, increased 2.1 percent to 90.8.

Economists had expected the index, which leads existing home sales by a month or two, to fall 1.0 percent after a previously reported 2.8 percent decline.

"We may not see notable gains in existing-home sales in the near term, but they're expected to rise 5 to 10 percent this year with the economic recovery, job creation and excellent affordability conditions providing confidence to buyers who have been on the sidelines," said NAR chief economist Lawrence Yun.


© 2022 Thomson/Reuters. All rights reserved.


Economy
Pending sales of previously owned U.S. homes unexpectedly rose in February, a trade group said on Monday, pointing to a modest pick-up in home sales. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in February, increased...
home sales,realtors
123
2011-33-28
Monday, 28 March 2011 12:33 PM
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