US Home Sales Show Signs of Recovery with Mortgage Easing
Pending home sales increased by 0.8% in February, marking the third consecutive monthly gain, with sales increasing in all regions except the West. While pending home sales are still down 21% from a year ago, the housing sector's contraction is coming to an end, according to the National Association of Realtors' chief economist, Lawrence Yun. The sector's rebound is being spurred by mortgage easing from recent highs, with residential mortgage loans expected to be more readily available.