The Pending Home Sales Index, a new indicator for the housing market, shows home sales are rising, according to the National Association of Realtors. The Pending Home Sales Index, based on data collected for February, stands at 123.2, which was 2.2 percent above January and 10.4 percent above February 2004. The index is based on pending sales of existing homes, including single-family and condo. A home sale is pending when the contract has been signed but the transaction has not closed. David Lereah, NAR?s chief economist, said sales are looking strong for March and April. ?Although home sales eased in February, housing activity appears to be firming with a modest uptrend in the months ahead,? he said. MS Las Vegas Real Estate has a finger on the pulse of the Las Vegas real estate market every day. Put our knowledge and experience to work for you.

This entry was posted by Michelle Sterling on Monday, April 4th, 2005 at 4:38 pm and is filed under Business & The Economy. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.