Pending home sales numbers in the U.S. are continuing their upward trend. For the fourth consecutive month, the Pending Home Sales Index rose for residential homes. This index measures signed contracts on homes for sale. Low interest rates, more affordable home prices, and first time buyer tax credits are attributed to the increases in homes under contract.
We haven't seen four straight months of gains since late 2004, so this is a very positive trend in real estate sales. While these transactions may take a bit longer to close with the larger number of short sales and distressed homes, there's no doubt that total closed home sales will rise in the coming months.
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