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The National Association of Realtors Pending Home Sales Index reports an increase in home sales of 6.3% over March. This is based upon reports of signed contracts.At the same time prices are still lower than last year by 13.1%According to Lawrence Yun of the NAR Chief Economist: "Bargain hunters have entered the market en masse, especially in areas that have seen double-digit price declines...Regions of the country that have seen sharp price declines, such as the West, are now seeing a sales recovery.""We are seeing an acceleration in foreclosures. As foreclosures have taken off, they put pressure on prices. Banks have … (0 comments)
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