More GOOD NEWS about the Housing market! NAR projects 1% rise in 2009 Sales

With improved housing affordability in the area and new buying incentives such as the $8,000 tax credit, more buyers are coming out to take advantage of the market. According to the Pending Home Sales Index, the number of contracts signed in February grew 2.1 percent from January and is only 1.4 percent lower than the number signed in February 2008.

What does all this mean? Lawrence Yun, NAR chief economist, says that these are “hopeful indicators that we’ll see additional sales gains.”

For more information on the housing market, check out www.realtor.org