Precursor To Existing-Home Sales Heads Higher
Pending sales of existing homes rose again in March, according to data released Thursday by the National Association of Realtors (NAR). The trade group's monthly reading of contract signings - which is a forward-looking indicator of where sales of previously owned homes will likely be within one to two months - rose 5.1 percent in March. With distressed properties now accounting for nearly half of the market's sales activity, the pending sales reading points to an increase in REO and short sales in the coming months. » Read More
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