Analysts Say Housing Is on the Way Up

Analysts at both Standard & Poor’s and Barclays Capital
agree that the uptick in home resales last month is a favorable sign of things
to come. Because pending home sales — an indicator of future activity — were up
in February, S&P believes transaction volume will rise for April.

Barclays, meanwhile, says March’s 3.7
percent gain in existing-home sales merely reinforces its position that the
housing market actually hit bottom in late 2010.

Source: “Monday Morning Cup of Coffee,” Housing Wire, Jon Prior (04/25/11)