US Pending Home Sales Increase for a Third Straight Month

Pending sales of previously owned US homes rose for a third straight month in April, indicating firmer underlying demand at the start of the spring selling season.

An index of contract signings increased 1.4% to a five-month high of 74.8, according to National Association of Realtors data released Tuesday. The median forecast of economists surveyed by Bloomberg was for a 1% advance.