Pending Existing Home Sales Highest in 5 Months but Will it Last?

By Mark J. DonovanPending sales on existing homes hit a 5 month high in March according to the National Association of Realtors (NAR). Much of this was surely due to the home purchasing tax credit expiring on May 1. So it begs the question, is this positive housing statistic a trend or a flash in the pan? Only time will tell.I wouldn’t be surprised, however, if it is the latter, at least for the