facebook
twitter
rss
account
search
search
 

Pending home sales up modestly in March

April 28, 2011 at 2:12 PM   |   Comments

| License Photo
WASHINGTON, April 28 (UPI) -- Pending U.S. home sales rose modestly in March, climbing for the second consecutive month, the National Association of Realtors said Thursday.

Pending sales based on contracts signed -- contracts that will likely close by the end of May -- rose 5.1 percent, lifting the Pending Home Sales Index to 94.1, the trade group said.

"Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own," NAR Chief Economist Lawrence Yun said in a statement.

The trade group said the pending home sales index fell 3.2 percent to 63.4 in March in the Northeast and rose 3 percent to 83.5 in the Midwest. In the South, the index jumped 10.3 percent to 110.2. In the West, the index rose 3.1 percent to 103.7.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback