Lawrence Yun

Buyers Enter Market, Payoffs Not Yet Seen 

Pending home sales climbed in March with many first-time buyers taking advantage of sharply discounted prices and low interest rates, according to the National Association of Realtors. The pending home sales index, a forward-looking indicator based on contracts signed in March, increased 3.2% month-over-month to 84.6 and sits 1.1% higher than March 2008.