There were more houses under contract in March than in any other month since June 2013, according to the National Association of Realtors.
The Pending Home Sales Index shows an 11% increase in home buyer activity from March 2014 to March 2015. The index tracks contracts signed that are waiting to close, so it’s a good indicator of future existing-home sales numbers. A property is marked as “pending” only after all contingencies have been met. Demand in many markets is beginning to far exceed supply, which will drive home prices up.