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Pending Home Sales in U.S. Increase Less Than Forecast

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The number of contracts to buy existing homes rose less than forecast in September, signaling demand will probably plateau heading into the end of 2014.

The pending home sales index increased 0.3 percent after dropping 1 percent in August, the National Association of Realtors said today in Washington. The median projection in a Bloomberg survey of economists called for a 1 percent gain.