Pending Home Sales Jump 6.3% in April

Index of homes under contract rises to the highest level since October, but is 13% lower than last year, Realtor group says.

The number of homes under contract to be sold rose unexpectedly in April as buyers go bargain hunting, according to a report released Monday.

Pending Home Sales Index from the National Association of Realtors (NAR) rose to 88.2 in April, up 6.3% from March's reading of 83 and the highest level since October. The increase defied the consensus estimate of economists polled by Briefing.com, who had expected pending sales to fall by 1%.

This is a great signal for those reluctant buyers to come back into the market.
We all know that the media creates a lot of the momentum in our industry and I see this as a huge positive for all of us.

Time to start making the donuts again. Go get yourself a piece of the pie.