U.S. Pending Home Sales Highest Since April 2010

With the Federal Reserve continuing to implement policies to keep mortgage rates low the National Association of Realtors said, ts Pending Home Sales Index, based on contracts signed last month, rose 0.3 percent to 106.0, the highest reading since April 2010.

A sale is listed as pending when the contract has been signed but the transaction has not closed.

Home prices in March rose 10.2% from a year earlier, the largest annual gain since prices began to fall in 2006

However the increase was below economists expectations and caution that a shortage of properties for sale could slow down the momentum. forecast the index would rise 1.7% from March’s reading of 105.7. About a third of home resales are cash transactions.

Over the last month home resale contracts rose modestly in the Northeast and Midwest and fell in the South and West.

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Karen Jackson

Karen Jackson has always been passionate about technology. All the way through high-school she immersed herself in computers and web-design. Her ambitious nature helped her become a pro in Adobe Photoshop only by watching online videos and working with the program herself. This is also the program that she mostly uses in the creation of websites at her work-place. Technological innovation and gadgets that push the boundaries of what we are comfortable with have always fascinated her, so expect to see some weird gadget reviews coming from her.