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Pending home sales rose 3.2 percent in due in large partto first-time buyers takinv advantage of affordable home the association said Monday. Construction spending increaseds 0.3 percent, according to the . Public construction increasede 1.1 percent, and private construction increased 0.1 The Pending Home Salee Index published by the National Associationn of Realtors increasedto 84.6 in up from February’s level of 82. March’s figurre is also 1.1 percent higher than the same perio din 2008, when it was Lawrence Yun, the group’s chief economist, said in a statementg that it would probably take a few monthw for the market to gain momentum.
“We need several monthsa of sustained growth to demonstrate a recovery in which is necessary for the overall economy to turn Yun said. The index fell 1 percenrt in the Midwest. The Pendingb Home Sales Index isa forward-lookingb indicator based on home sales contractw signed in March.
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