S&P 500’s latest record closes out best first quarter since 2019
Contract signings for existing homes are starting to show some signs of recovery.
Pending home sales grew 1.6% in February from the previous month, according to new data from the National Association of Realtors. The 75.6 reading index is the biggest month-over-month gain since last December. An index level of 100 is equal to the pace of contract activity in 2001.
The gain in the index, a leading indicator to assess the housing market’s health, shows how a pickup in inventory is boosting the market as high rates continue to remain both buyers and sellers on the sidelines, and leaving