The news was deemed to be positive by investors last Friday. But the trade organization tempered the optimism, saying that more affordable homes can help sales, but without federal tax credit help, sales are destined to be slow. "Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery," Yun said in a NAR statement.
The news helped stocks of home builders gain last Friday. The SPDR S&P Homebuilders exchange-traded-fund, which measures the performance of companies in the home building sector, gained 2.7 percent.
