Pending Home Sales Up for 3 Straight Months

 

National Association of Realtors Pending Home Sales Index (PHSI) is released during the first week of each month. It is designed to be a leading indicator of housing activity. The index measures housing contract activity. It is based on signed real estate contracts for existing single-family homes, condos and co-ops. ?EUR??,,????'??? Courtesy of www.alanwilaby.com

Once homes are sold, look for an influx of opportunities in residential landscapes. Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit.

The Pending Home Sales Index in the Northeast shot up 32.6 percent to 78.9 in April and is 0.8 percent above a year ago. In the Midwest the index rose 9.8 percent to 90.4 and is 11.1 percent above April 2008. The index in the South slipped 0.2 percent to 93.0 in April but is 3.5 percent higher than a year ago. In the West the index rose 1.8 percent to 94.8 but is 2.9 percent below April 2008. ?EUR??,,????'??? Courtesy of National Association of Realtors