today's data,2010- 04-05 --home sales rose

In the single-biggest monthly rise since October 2001, pending home sales rose 8.2% in February. Economists were expecting a 1% decrease.


(great news to bull)

It was also a 17% improvement over February last year. The unexpected increase could indicate demand driven by the federal government's homebuyer tax credit, NAR said.

Buyers have to ink contracts by the end of April to take advantage of the tax credit, which offers first-time homebuyers up to $8,000, and those who are trading up as much as $6,500.