The National Association of Realtors Pending Homes Sales Index ticked up 3.4 percent from February to March, the first month-over-month gain in nine months. That being said, the forward-looking indicator remains nearly 8 percent lower on a year-over-year basis while the inventory of homes for sale is 9.5 percent higher – and moving 23 percent slower – on a year-over-year basis.

The Pending Home Sales index in the West increased 5.7 percent from February to March but remains 11.1 percent below its March 2013 mark.

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Comments from “Plugged-In” Readers

  1. Posted by soccermom

    Low activity not so good news for the economy, but good news for builders and owners as demand accrues.
    NYT Sunday was all over this storyline with lack of household formation contributing to economic growth.
    Jan-April 2013 was a recent frenzied run-up until mortgage rates popped in May 2013. Bit of noise in the data when making 2013/2014 comparisons. Interest rates come down stairs carefully, but go up in elevators quickly…

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