More Real Estate Hope

We have now had a string of encouraging news on the housing recovery.

1. Sales of new homes were up 4.7 percent in Feb from Jan.

2. Sales of previously occupied homes went up 5.1 percent in the same period.

3. On Wednesday the Mortgage Bankers Association's latest weekly measure of loan applications climbed 4.7% -- their purchase index jumping 11.1%.

The rise in the purchase index indicates buyers are back taking advantage historically low mortgage rates and the first-time home buyer tax credit.