Home Sales Rise in February

What You'll Learn

  1. Home Sales on the Rise
APRIL 5, 2010

The National Association of Realtors announced that home sales rose 8.2 percent in February. The report is based on the Pending Home Sales Index, which tracks the number of sale contracts signed for existing homes in February.

Some economists look at the index as an indicator for future home sales because there is usually a one to two month wait between a signed sales contract and a completed home sale.

An article in the New York Times said the "data suggested buyers were re-entering the market as the April 30 deadline approached for a government tax credit of up to $8,000." There is also a tax credit of $6500 for existing homeowners who move.

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