Pending sales nationwide jump 9 percent

Pending home sales nationwide were 9.2 percent above February 2011, reports the National Association of REALTORS®. Lawrence Yun, NAR chief economist, says we’re seeing the continuation of an uneven but higher sales pattern. "The spring home-buying season looks bright because of an elevated level of contract offers so far this year,” he says. "If activity is sustained near present levels, existing-home sales will see their best performance in five years. Based on all of the factors in the current market, that’s what we’re expecting with sales rising 7 to 10 percent in 2012.” -Orlando Realtors