Rising Home Sales Support Case for Housing Recovery

Pending home sales rose 5.9 percent in May from April and are up 13.3 percent from a year ago, reports the National Association of Realtors. The data is the latest evidence to support the argument that the strong start to the spring home-buying season signals the onset of housing recovery. Record-low mortgage interest has driven sales, with the average 30-year fixed rate at 3.88 percent last week, according to the Mortgage Bankers Association. | Read More