I too was very happy to read the National Association of Realtors statistic released yesterday: "Pending sales of existing U.S. homes increased by 3.2 percent in March, after a 2 percent increase in February." However, I am still holding my breath. Why? Because the real question is this: how much more distressed property is still in the pipeline? When the foreclosures and short sales begin declining, then we will know prices have leveled off and we have truly hit the bottom. The only way to go from there is UP.
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