February Numbers Pleasantly Surprise
April 5, 2010 by admin
Filed under Pending Home Sales
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Lawrence Yun, chief economist for NAR, said Monday that “the early stages of a second surge of home sales.” adding that ,”we need a second surge to meaningfully draw down inventory and definitively stabilize home values”. Sales rose 8.2 percent in February, the National Association of Realtors said.
The Institute for Supply Management’s non-manufacturing barometer gave the highest rise in three years, rising to 55.4 in March, up from 53 in February. Much of the momentum came from a surge in new orders and business activity.
