While the February home sale figures dip, home sale statistics are affected by the economy underpinning them, generally several months preceding the home purchase decision, and the closing several months later.
Therefore the associated sale and pricing figures are lagging indicators by 3-4 months or so.
With this in mind we are now seeing stronger investor interest as recent employment rates improve and the outlook for the residential market demand improves.
This coupled with a bit more flexible bank lending policy for home mortgages
suggests an improving outlook for US home sales and a stabilized pricing
environment.
Bodes well for investment in the US residential market. Though I'd term it a
fragile recovery, that could easily lose traction if global economies, with a particular eye on Europe, retreat throwing US employment figures negative.
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