My Real Estate Blog

Signs of recovery in the housing market and the national economy keep popping up and are even beginning to surprise veteran analysts on Wall Street.

Even though February saw the worst weather in decades over most of the country the latest pending home sales index numbers actually took a big bounce.  The National Association of Realtors reported that pending sales jumped 8.2 percent for the month and were 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 tax credits just weeks away, analysts expect home sales activity to remain high. The National Association of Realtors, says 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.

Home Depot and other big household-oriented retailers announced that they have begun hiring again. Retails sales nationwide jumped by 23% for the month; home furnishings and furniture sales were up 14%.