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NEWS »»Pending home sales up big in February
- April 5,2010
The National Association of Realtors said Monday its seasonally adjusted index of sales agreements rose 8.2 percent from January to a February reading of 97.6. January’s reading was revised slightly downward to 90.2. The report “may signal the early stages of a second surge of home sales this spring,” said Lawrence Yun, NAR’s chief economist. Home sales were spurred on after a sluggish winter, partly because the government extended the deadline to qualify for a tax credit. First-time buyers can get a tax break of up to $8,000 if they sign a contract by April 30. Lawmakers also added credit of $6,500 for existing homeowners who move. The biggest month-to-month increase was in the Midwest, where pending sales rose by nearly 22 percent. Sales posted gains of 9 percent in the South and Northeast, but fell nearly 5 percent in the West. www.SellMyHouse.com Staff Writer
