According to the National Association of Realtors, the total pending homes
sales, which represents the number of contracts signed, has increased 5.9% to 101.1 from 95.5 in April, 2012. Construction Spending also rose 0.9% in May 2012, according to the Commerce Department, which was the biggest gain since December 2011. While some
area markets are stabilizing, Property Values (including Cape Mat County) showed that the decline in home prices during the month of April was at the lowest since November, 2010. Home prices are still down even as the housing market sees some improvement.