The US housing market has been struggling from crisis as reflected in its current economic situation. However, the National Association of Realtors sees future positive activity in housing market, as prices drove sharply lower.
"Bargain hunters have entered the market en masse, especially in areas that have seen double-digit price declines," said the association's chief economist, Lawrence Yun.
"Bargain hunters have entered the market en masse, especially in areas that have seen double-digit price declines," said the association's chief economist, Lawrence Yun.
Regions of the country that have seen sharp price declines, such as the West, are now seeing a sales recovery, he added.
Economists polled by Reuters before the report were expecting pending home sales to decline 0.5 percent.
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