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News & Information: Real Estate News

Nation's pendings increase 13 percent

Monday, April 30, 2012  
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Pending home sales across the country increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of REALTORS®.

NAR's Pending Home Sales Index is 12.8 percent above March 2011 and is now at it's highest level since April 2010, when it reached 111.3.

Lawrence Yun, NAR chief economist, says 2012 is expected to be a year of recovery for housing. "The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun says.

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