Orange County Coastal News

- Robert Larsen 4/12/2010

Signs of recovery in the housing market and national economy keep popping up – and are even beginning to surprise veteran analysts on Wall Street and elsewhere.
Though economists had expected at the latest pending homes sale to be down – after all, February saw the worst weather in decades in large parts of the U.S. – the numbers actually took a big bounce.
The National Association of Realtors reported that pending home sales jumped 8.2 percent for the month and 17 percent higher than they were at the same time last year.
With the April 30 deadline for sales contracts to qualify for the two housing credits, analysts expect home sales activity to remain high. Lawrence Yun, cheif economist for the National Association of Realtors, says he thinks we may be in “the early stages of a second surge” of real estate transactions that could continue into mid-year.
But let’s be clear: Home sales are not only being pushed by tax credits. Far stronger impetus is coming from steadily improving conditions in the national economy and rising consumer perceptions that finally things are getting better.

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