U.S. pending home sales rose slightly with a 0.4 percent increase in April 2014 compared to March, but the monthly gains were even higher in the Midwest region, which climbed 5.0 percent during the same period, according to the National Association of REALTORS® (NAR) latest Pending Home Sales Index. Pending sales in all regions were lower when compared annually.
NAR’s index is a forward-looking market indicator that tracks contract signings. NAR Chief Economist Lawrence Yun said inventory levels are improving and lower mortgage interest rates are boosting buyer confidence, which could lead to a gradual uptrend in closed home sales in the future. Read more from NAR.
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