Strong sales surge for US home

Recently released figures for pending property sales in the residential sector of the USA real estate market have significantly improved during May and are at the highest level for two years. The results of the Pending Home Sales index (which details contracts but not closings), supplied by the National Association of Realtors, shows gains in every region on both a monthly and annual basis. The PHSI is regarded a forward indicator of the strength the market and many well respected experts believe the market is at long last showing real signs of sustained growth. Lawrence Yun – head economist at NAR – believes todays housing market is clearly stronger when compared to the last four years and with the numbers for actual closings for established homes increasing since the start of 2012 feels sales levels are on target for a ten per cent improvement by the end of the year.