According to MSNBC.com, the number of Buyers who signed contracts to purchase homes in March surged more than expected. This is another sign that the government incentives offered are driving the Spring market. Additionally, the National Association of Realtors’ adjusted index of sale agreements for previously occupied homes also rose 5.3% from last month. These figures were the highest since October 2009 and were up 21% from this time last year.
This is an early measurement of sales activity since there is usually a one to three month lag between the contract date and the settlement date.