Pending home sales in March increased, marking the first gain since last summer, according to the National Association of Realtors.
The figure, based on contractor signings, grew 3.4 percent to 97.4 from February's 94.2.
"After a dismal winter, more buyers got an opportunity to look at homes last month and are beginning to make contract offers," said Lawrence Yun, NAR chief economist, in a statement. "Sales activity is expected to steadily pick up as more inventory reaches the market, and from ongoing job creation in the economy."
This March's number is still 7.9 percent lower than a year ago. The NAR predicts that total sales for 2014, despite an upward trend, are unlikely to match 2013 levels.
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