Getty Images / Tim Boyle

Americans Are In The Mood To Buy A House

In April, the number of houses under contract reached a high we haven't seen in over a decade.

By Samantha Crook | May 26, 2016

There's been a big increase in people signing contracts to buy homes. In April, those numbers hit highs we haven't seen in over a decade.

In a news release from the National Association of Realtors, the group credits those numbers to low mortgage rates and job creation.

More good news: The NAR says this has been the best first quarter for already closed sales since 2007.

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April's stellar numbers are based on pending transactions, but the NAR says once someone signs a contract to buy a home, that sale is usually finalized within a month or two.

Prospective homebuyers in the South and West are largely to thank for April's pending sales. The Midwest actually saw a slight decline, but the NAR says it might just be a one-off — and existing home sales in the region did have a surge.

This video includes images from Getty Images.

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