NAR's latest pending home sales release suggests that the underlying factors in the improved market are systemic and not due to just one or two transient factors.
Pending home sales were little changed in September but remain well above a year ago.
Economists from the Mortgage Bankers Association sounded an optimistic note at a press conference during the organization's Conference & Expo.
Starting this week, Fannie Mae is allowing electronic signatures on offer documents for its HomePath REO properties.
Fannie Mae economists say they believe home prices "hit bottom" earlier this year and that prices and sales will continue to move up.
Home sales dropped a bit over the last month but they remain strong compared to this time last year and price gains remain robust.
More home buyers may consider purchasing new homes, as the competition from distressed homes falls.
As inventories of for-sale homes drop, the amount of time homes are staying on the market is dropping too, according to the latest Realtor.com data.
September existing-home sales declined modestly, but inventory continued to tighten and the national median home price recorded its seventh back-to-back monthly increase from a year earlier, according to the National Association of Realtors®.
Mortgage rates held steady for the most part this week, remaining near all-time record lows set last week.