According to REALTOR Magazine, pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9. The data reflects contracts but not closings.
The index is now at the highest level since April 2010 when it reached 111.3.
Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. “First quarter sales closings were the highest first quarter sales in five years. The latest contract signing activity suggests the second quarter will be equally good,” he said.
“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.
If you are looking to buy or sell a home in this improving market, North Eastern Group Realty is prepared to assist with your significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR, visit our website at NorthEasternGroup.com.
North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.
The annual Fort Wayne Home Builders Town and Country New Home Tour featured this amazing Buescher homes at Hawthorne Park Estates. Bob Buescher's ability to design a home specifically for the selected home site is fully demonstrated in this home that takes full advantage of the pond views and future pool view from almost every room...
(INDIANAPOLIS, IN) – The statewide housing market out-performed itself on all but one indicator during the first quarter of 2012 when compared to the same three months – January, February and March – of last year. According to the Indiana Real Estate Markets Report today released by the state’s REALTORS®: • The number of closed...