Pending Sales of U.S. Existing Homes Increased 0.4% in April
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Contracts to purchase previously owned homes rose for a second month in April, a sign the residential real estate market is stabilizing after a weak start to the year.
The pending home sales index climbed 0.4 percent after a 3.4 percent increase in March that was the first gain in nine months, the National Association of Realtors said today in Washington. The median projection in a Bloomberg survey of economists called for the April index to rise 1 percent.