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NAR: Housing market has 'turned the corner'
For those of you that missed it, here is the harbinger of good tidings we’ve all hoped for and are eagerly welcoming!  Inman has provided a wellspring of up-to-the-moment news on our business consistently.  I look forward to them daily.

NAR: Housing market has 'turned the corner' By Inman News, Thursday, April 26, 2012.
(Inman News®Sun house image via Shutterstock)
Pending sales of existing homes rose to their highest level in nearly two years in March, according to the National Association of Realtors' latestPending Home Sales Index.
The index, which represents contracts signed but not yet closed, jumped a seasonally adjusted 4.1 percent from February to March, to 101.4. That's the highest index level since April 2010, when the deadline for a federal homebuyer tax credit program loomed. The index was 111.3 then.
Pending sales were up 10.8 percent from the same time a year ago on a non-seasonally adjusted basis.
An index score of 100 is equal to the average level of sales contract activity in 2001, a robust year for home sales and the first year examined by the trade group. The index typically represents about 20 percent of all existing-home transactions. Contracts signed in March typically close ... more

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