With many first-time buyers taking advantage of historically good housing affordability conditions, the National Association of Realtors released a report on Monday showing a notable increase in pending home sales in March.

The report showed that NAR's pending home sales index rose 3.2 percent in March following a downwardly revised 2.0 percent increase in February. Economists had expected the index to come in unchanged following the 2.1 percent increase originally reported for the previous month.

For comments and feedback: contact editorial@rttnews.com