Home Sales Climb in Rocky Recovery

pending home sales
pending home sales

The housing market continues its stutter-step road to recovery, as the spring buying season gains momentum. Despite uneven growth in the past nine months, some experts believe homes sales have finally turned a corner.

Pending home sales rose 5.1 percent to 94.1 in March from a downwardly revised 89.5 in February, according to the National Association of Realtors. The index has now risen in six of the past nine months.

"Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate that the market is recovering on its own," said Lawrence Yun, National Association of Realtors chief economist, in a statement released Thursday.