Overall, pending home sales nationwide rose 0.4 percent in April, but remain 9.2 percent
below year ago levels. "Higher inventory levels are giving buyers more choices, and a slight decline in mortgage interest rates this spring is raising prospective home buyers’ confidence," says NAR’s chief economist. "An uptrend in closed sales is expected, although months will encounter a modest setback." Forecasts NAR has made the following projections with sales and home prices through 2015.Regional Snapshot
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