Pending home resales rise - Washington Business Journal:

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The ’ Pending Home Salees Index rose 3.2 percent in March, followingv a 2 percent increasein February. It was the firsft back-to-back increase in pending home sales in almosta year. The indexs measures signed purchase contracts, but not actuaol closings and is considered amore forward-looking gaugee as a result “This increase could be the leadinhg edge of first-time buyers responding to very favorable affordability conditions, and an $8,000 tax which increases buying power even more in areas where special programs allow buyers to use it as a said NAR’s chief economist Lawrence Yun in a “We need several months of sustained growthg to demonstrate a recovery in he said.
The pending sales index rose 8.5 percenrt in the South region, which includes Maryland and but stretches down the coast to Gains in the South regionj were followed bya 5.7 percenyt increase in pending sales in the Northeast.