Stimulus Pagage's $8,000 tax credit causing housing sales to near bottom

[jsamuel]

U.S. home sales suggest housing bottom near

WASHINGTON (Reuters) - Pending sales of existing U.S. homes rose in March for a second straight month, a private survey showed on Monday, supporting views the housing market was close to hitting a bottom.

The National Association of Realtors Pending Home Sales Index, based on contracts signed in March, rose 3.2 percent to 84.6. February's pending home sales index was slightly revised down to 82.0 from 82.1. Compared to the same period a year ago, pending home sales rose 1.1 percent.

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NAR chief economist Lawrence Yun attributed the rise in signed contracts for home purchases to first-time buyers taking advantage of favorable affordability conditions, including an $8,000 tax credit.

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[liberalmuse]

1. I'm trying to buy a house now.

I hope we're near the bottom. Little scary out there.

[jsamuel]

2. yeah