Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Contracts to buy US homes rose for 1st time in 9 months in March, pointing to higher sales

In this March 17, 2014 photo, a for sale sign hangs outside a home in Pembroke Pines, Fla. The National Association of Realtors on Monday, April 28, 2014 said its seasonally adjusted pending home sales index rose 3.4 percent to 97.4 last month. Still, the index remains 7.9 percent below its level a year ago. (AP Photo/J Pat Carter)

Enlarge Image

In this March 17, 2014 photo, a for sale sign hangs outside a home in Pembroke Pines, Fla. The National Association of Realtors on Monday, April 28, 2014 said its seasonally adjusted pending home sales index rose 3.4 percent to 97.4 last month. Still, the index remains 7.9 percent below its level a year ago. (AP Photo/J Pat Carter)

WASHINGTON - More Americans signed contracts to buy homes in March, the first increase since June and a sign that the housing market may pick up after a sluggish start to the year.

The National Association of Realtors says its seasonally adjusted pending home sales index rose 3.4 per cent to 97.4 last month. Still, the index remains 7.9 per cent below its level a year ago.

Pending sales are a barometer of future purchases: A one- to two-month lag usually exists between a signed contract and a completed sale.

The gain in signed contracts partly reflects a recovery from the harsh winter. Snowstorms and freezing temperatures kept many potential buyers away from open houses. Since last summer, a limited supply of available homes has pushed up prices and discouraged many buyers.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Sudden Surge: Flood of 2014
Opportunity Magazine — The Bakken
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates