Morning Minute: U.S. pending home sales climb to highest level since June 2013

Pending home sales moved higher in March, increasing 1.1 percent compared to February and 11.1 percent over March 2014, the National Association of REALTORS® (NAR) reported today. NAR Chief Economist Lawrence Yun said buyer demand is strong in this spring’s competitive housing market. Read NAR’s news release.

“While contract activity being up convincingly compared to a year ago is certainly good news, the increased number of traditional buyers who appear to be replacing investors paying in cash is even better news. It indicates this year’s activity is being driven by more long-term homeowners,” Yun said.

In other headlines:

REALTORS® Grow More Upbeat in Recovery – REALTOR® Confidence Index

Housing Recovery Slow and Steady in 2015, Will Pick Up Pace Next Year – National Association of Home Builders

 

 

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