Nationally, the number of homes under contract rose for the second consecutive month and are up year over year, up 3.2% from February and 1.6% from last year.
Industry experts had expected no rise in pending home sales, so this data comes as a pleasant surprise to many. Some believe the uptick in pending homes is a direct result of the First Time Home Buyer Tax Credit that lapses in December.
Another factor may be the significat decrease nationwide in home prices, encouraging those waiting on the side lines to jump in to the market.
