(NBC) – After a four month slide new home sales surged nearly 27 percent last month.
"This is all great news, and we expect that you'll see a further gain in new home sales going forward as trade up buyers are sort of freed up by these first time buyers coming in and purchasing their homes so they can move up to the new home sales," said National Association of Realtors economist Danielle Hale.
The sales bounce appears to be the result of better weather and a rush to get a home-buyers tax credit before it expires at the end of this month.
"We've got 62 closings coming up through the end of June," says Encore Homes' Keith Hoyer. "A lot of them are selling before we have them up."
No one can say for sure just how much the tax credit is driving sales, but everyone agrees the numbers are heading in the right direction.
It's an encouraging sign for an economy that's slowly turning around, but experts are unsure how long the surge will last.