An article from RealtyTimes.com, reports last month, the pending home sales index numbers showed that on a national basis, the index jumped by 5.3%. More importantly, it rose in every region of the country, suggesting that the turnaround underway is broad-based. The index measures signed sale contracts that haven't yet gone to closing and is a leading indicator of home sales for the coming two to three months. If first-time home buyers take advantage of Congress's new $7,500 tax credit, sales later in the summer and Fall could exceed most analysts' expectations. According to the National Association of Realtors, over 2 million home sales could be stimulated by the credit between now and mid-2009, when it expires.
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