Skip to: Content
Skip to: Site Navigation
Skip to: Search
THURSDAY, NOVEMBER 26, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


2

Home-Sale Index Skyrockets, Boosting Recovery Hopes

Share

(Newser) – Pending sales of existing US homes soared in April, posting their largest jump since October 2001. Combined with a 3.2% jump in March, the 6.7% increase in April—far more than the forecast 0.5%—suggests a longer-term upward trend, the Wall Street Journal reports. Dipping prices, low interest rates, and the first-time homebuyer tax credit helped account for the increase, analysts said.

Chart shows seasonally adjusted annual rate of pending US home sales
Chart shows seasonally adjusted annual rate of pending US home sales
A
A "sale pending" sign in Gloucester, Mass., may be a harbinger of recovery, figures out today suggest.   (AP Photo/Lisa Poole, File)
A sold sign hangs outside an existing home in Bainbridge Twp., Ohio on Monday, April 27, 2009.
A sold sign hangs outside an existing home in Bainbridge Twp., Ohio on Monday, April 27, 2009.   (AP Photo/Amy Sancetta)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
2 comments
VIEWING:
 
Sniffer
Jun 2, 09 2:02 PM CDT
Interest rates are going up - house sales will go down. This is another temporary blip. Anyone notice that thousands of people are still losing their jobs - I guess that means More people will buy houses now right? What B.S. the news reports. Almost everyone I know has a relative or friend out of work & is struggling. Maybe I'm too simple minded - but I see things getting worse - Not better. Reply
Vote up! Vote down!
0
IN RESPONSE:
Robert_Dada
Jun 2, 09 6:16 PM CDT
Employment is one of the latest lagging indicators, very often contracting even when a recovery is underway. No, we're not in good times yet, but it's clear we have avoided driving off of the precipice.
Vote up! Vote down!
+1
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

117 Stories

MARKETS

 Up 133, Dow Hits New '09 High

Data on home resales spur rally

Nov 23, 09 3:18 PM CST
(Newser) - Stocks rallied today on news that home resales jumped 10.1% in October and comments from the president of the St. Louis Fed reaffirming the government's extended commitment to support the credit markets, the Wall Street Journal reports.
  • The Dow jumped 132.79 points to close at 10,450.
... More »

MORE ABOUT:
Federal Reserve • Dow Jones • home sales • Nasdaq • existing home sales • S&P 500 • existing-home sales

 Home Prices Climb in August 

Nearly every major city gets a boost

Oct 27, 09 9:03 AM CDT
(AP) - US home prices rose for the third straight month in August, data released today showed, a key sign for a broad and sustained housing recovery. The S&P/Case-Shiller home price index of 20 major cities climbed 1% from July to a seasonally adjusted reading of 144.5. While prices are... More »

MORE ABOUT:
real estate • housing market • home prices • Case Shiller price index

Watchdog: Feds Need to Expand Foreclosure Plan

$50B plan proving ineffective as more mortgage holders lose their jobs

Oct 10, 09 5:00 AM CDT
(Newser) - The Treasury's $50 billion loan-modification program is in danger of being swamped as the foreclosure crisis accelerates, the Congressional Oversight Panel said in a report yesterday. The Home Affordable Modification Program has met its target of 500,000 trial mortgage modifications started by November 1, but the watchdog warned that... More »

MORE ABOUT:
housing market • subprime mortgages • foreclosure • mortgage • subprime crisis • negative equity • Obama administration • TARP • mortgage modification • underwater mortgage • Home Affordable Modification Program

117 Stories


Business  •  US 
TwitterFollow @NewserBusiness on Twitter

 
housing market • mortgage • home sales • mortgage rates • home prices • existing home sales • tax credit • existing-home sales

from our news partners