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Pending Sales of Existing Homes in U.S. Increased 3.4% in April

Bloomberg business news

More Americans Signed Contracts for Existing Homes

More Americans than forecast signed contracts to purchase previously owned U.S. homes in April, indicating a pickup in the housing market during the busy spring selling period.

The index of pending home resales climbed 3.4 percent to the highest level in nine years after a revised 1.2 percent gain the prior month, the National Association of Realtors said Thursday in Washington. The median forecast of 39 economists surveyed by Bloomberg called for an increase of 0.9 percent.