The National Association of Realtors says its index of sales agreements increased 4.1 per cent last month to a reading of 101.4, the highest since April 2010, when buyers could qualify for a federal home-buying tax credit. A reading of 100 is considered healthy.
Contract signings typically indicate where the housing market is headed. There's a one- to two-month lag between a signed contract and a completed deal.
More signings are among recent signs of a slight pickup in the housing market. New home sales fell in March but have risen over the past year. Builders are also more confident.