When a real estate market begins to recover, the number of homes sold increases, the backlog of unsold homes on the market decreases, but prices continue to fall because those are the last to turn.
In the past few months, that’s exactly what’s begun to happen. If one looks at December, January and February, and the three same months a year earlier, the number of homes for sale has dropped by 10 percent, the number of homes sold has increased by 11.7 percent, and the number of pending home sales, meaning those with signed contracts, increased by 26.2 percent.
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