In a recent report from the National Association of Realtors (N.A.R.), pending home sales are at their highest level since April 2010 with a 7.3 percent jump in contract signings this past November possibly signaling a return of buyers to the housing market.
Lawrence Yun, N.A.R. chief economist feels that housing affordability conditions are at record levels and buyers who have been on the sidelines for quite a while waiting for the market to improve are now ready to buy.
Also, recent declines in the unemployment rate could also factor in to this increase. Signed contracts usually give a good indication as to where the housing market is headed.
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