Potential homebuyers take note, there is less than 30 days until April 30th arrives which is the day by when those wishing to take advantage of the federal homebuyer tax credit must enter in to a sales contract to buy a home and qualify for the tax credit under federal guidelines. The home purchase must then be closed by June 30th.

This pending deadline may be why on Monday the National Association of Realtors announced that pending home sales of previously occupied homes rose 8.2% from January to February. Economists had expected the index would fall slightly so the report is certainly a surprise.

Pending home sales rose most in the Midwest by a percentage of nearly 22%. Sales posted gains of 9% in the South and Northeast but fell nearly 5% inn the West.

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