Dive Brief:

• A pair of upbeat reports about the housing market last week offered a salve to those smarting from the gloomy start to 2015.

• The National Association of Realtors reported on Friday that the number of contracts signed for homes spiked slightly in January for the fifth consecutive month, despite tight inventory. NAR Chief Economist Lawrence Yun said the move “highlights the underlying demand” among homebuyers.

• A day earlier, Fannie Mae’s Economic & Strategic Research Group predicted that housing will “shift up a gear in 2015” following “the uneven and ultimately disappointing activity last year,” according to Chief Economist Doug Duncan. The group said it expects home sales to increase by 6% by the end of the year.

Dive Insight:

Combined, the forecasts outline a positive outlook for the spring selling season. And there’s more good news: Job creation and hiring are on the upswing, salaries are increasing, and home prices are expected to continue to rise this year. As they do, more owners of existing houses will list their places for sale and start buying replacement homes.