Existing Home Sales UP!

Good News!
The National Association of Realtors (NAR) released their numbers for Existing Home Sales in February.
Internally this is called the PHSI, or Pending Home Sales Index.
It tracks the number of contracts signed.

Nationally, the number of sales of existing homes rose in February .7% over January numbers.
The biggest gains were in the South with a gain of 4.5%
The data surprised market watchers nationwide.
http://www.realtor.org/press_room/news_releases/2007/phs_feb07_show_effects_of_weather.html

Here's a breakdown of the numbers nationally and regionally.
http://www.realtor.org/Research.nsf/files/PHS.pdf/$FILE/PHS.pdf

Here's the Bad News...
In the Western United States, we didn't see the same jump as the rest of the Nation.
Instead we saw a decline of 6%!


We'll have more defined numbers (broken down to cities) soon as various agencies filter the local data.

To read more about what the report means to you here's a good explanation: LINK