It’s a pretty exciting time for the real estate industry–major indicators are at last pointing towards the beginning of a recovery in the housing market. After consecutive years of uncertainty, fear and an all out loss of hope that things would get better, strong first quarter numbers are showing thawing compared to last year and green shoots for the spring market. The Commerce Department last week reported that new home sales in March were up by 27 percent, hitting their highest levels since summer of 2009. And a hot-off-the press report by the National Association of Realtors stated that pending home sales in March rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1 percent above March 2009 when it was 85.0.
A granular look at state activity helps reinforce some of these numbers: