Pending home sales have increased over the last nine months to a level not surpassed until before the 2006, before real estate market bubble burst. Pending home sales are homes on the market for sale and have a buyer willing and signing to purchase the home. Although the housing statistic is great news for the economy, the reasons for the increased numbers are based on temporary factors. These factors include the home buying market taking advantage of the extended 1st time homebuyer credit which was extended from November 2009 to April 2010. In addition, many home buyers are leaping at the opportunity to purchase homes that have reduced value in the depressed market. The large majority of homes registering as pending home sales fall below the $250,000 range.