If you are an investor or a buyer in the market for a new home or if you are a homebuilder, there may be some good news after waves and waves of bad news and then “less-bad news.” The National Association of Realtors said that pending home sales has risen with many new first time home buyers taking advantage of the affordability of housing. Pending Home Sales rose by 3.2% in March, 2009 to 84.6. This compares to 82.0 in February, 2009 and compares to 83.7 in March, 2008. This has the SPDR S&P Homebuilders (NYSE: XHB) screaming on the news.
Full Story: http://247wallst.com/2009/05/04/pending-home-sales-show-great-comfort-xhb/#more-33094