Increases in Pending Home Sales Activity Points to Improved Buyer Demand

For the fourth-consecutive month, pending home sales activity showed gains in April according to the National Association of Realtors’ (NAR) Pending Home Sales Index. Compared to March, pending home sales rose by 3.4% and were 14% higher than in April 2014. The NAR indicated that April’s index results reflect the highest level of pending home sales activity since May 2006.

Lawrence Yun, NAR Chief Economist, attributed the consistent increases in pending home sales activity during the year to improved buyer demand. Despite a slump in April’s existing-home sales, Yun expects sales to recover as we head into the summer months, but warned that “the likelihood of meaningful gains will depend on a much-needed boost in inventory and evidence of moderating price growth now that interest rates have started to rise.” Read the full article at http://bit.ly/1Ffdrxf.

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