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Home sales rise two percent in January

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High Five
Monday, February 27, 2012

More people sign contracts to buy home, suggesting a housing market rebound.

The National Association of Realtors said Monday that its index of sales agreements rose 2 percent last month to a reading of 97. That's the highest reading since April 2010, the last month that buyers could qualify for a federal home-buying tax credit.

A reading of 100 is considered healthy. The Realtors' group also released revised data for 2011. That lowered November's initial 19-month high of 100.1 to 96.9. But contracts have been markedly up since the summer when some feared a second recession loomed.

Read more at Oregonlive.

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