Pending US Home Sales Hit Highest Level Since February '06 - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Pending US Home Sales Hit Highest Level Since February '06

Posted: Updated:

WASHINGTON (AP)- Americans signed more contracts to buy homes in April for the third straight month, driving pending home sales to the highest level in more than a decade.
    
The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index surged 5.1 percent last month to 116.3, the highest since 117.4 in February 2006. The strong sales come in the middle of the spring home-buying season. Sales are up 4.6 percent from a year ago.
    
Sales climbed 11.4 percent last month in the West, 6.8 percent in the South and 1.2 percent in the Northeast. In the Midwest, sales dipped 0.6 percent.
    
Lawrence Yun, NAR chief economist, credited long-term mortgage rates that remain below 4 percent and steady job growth, which gives consumers the incomes and confidence to buy homes.
    
Pending sales contracts are a barometer of future purchases. A sale is typically completed a month or two after a contract is signed.
    
The U.S. housing market is looking healthy overall.
    
The Commerce Department reported Tuesday that new home sales shot up 16.6 percent last month to a seasonally adjusted rate of 619,000, the most since January 2008. Sales of existing homes, which make up 90 percent of the housing market, rose in April for a second straight month to an annual pace of 5.45 million.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Earth Weekend at the Salisbury Zoo

    Earth Weekend at the Salisbury Zoo

    Apr 22, 2018 10:06 PM2018-04-23 02:06:00 GMT
    Sunday, April 22 2018 10:06 PM EDT2018-04-23 02:06:59 GMT
    SALISBURY, Md--The Salisbury Zoo was packed with lots of curious minds on Saturday April 21, in preparation for Earth Day. Envirnonmental organizations educated people on how to protect the Earth. Jamie Malone wants to teach her two sons as much as she caMore
    SALISBURY, Md--The Salisbury Zoo was packed with lots of curious minds on Saturday April 21, in preparation for Earth Day. Envirnonmental organizations educated people on how to protect the Earth. Jamie Malone wants to teach her two sons as much as she caMore
  • Del. Prisoner Caught 10 Minutes After Escape

    Del. Prisoner Caught 10 Minutes After Escape

    Apr 23, 2018 11:45 AM2018-04-23 15:45:00 GMT
    Monday, April 23 2018 11:45 AM EDT2018-04-23 15:45:55 GMT
    Delaware prison officials say an inmate was caught by police only 10 minutes after escaping.More
    Delaware prison officials say an inmate was caught by police only 10 minutes after escaping.More
  • Woman Run Over and Killed in Dover

    Woman Run Over and Killed in Dover

    Apr 23, 2018 9:52 AM2018-04-23 13:52:00 GMT
    Monday, April 23 2018 11:40 AM EDT2018-04-23 15:40:49 GMT
    A man has been in arrested in connection with a Sunday evening crash that claimed the life of a woman walking with her service dog across a highway in Dover, Delaware.More
    A man has been in arrested in connection with a Sunday evening crash that claimed the life of a woman walking with her service dog across a highway in Dover, Delaware.More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices