Pending Home Sales Up 6.7 Percent for April

For the third straight month, the pending sales of previously owned homes is up – and April, with 6.7 percent growth, was the best of the three months, according to the National Association of Realtors. The trend signals a subdued turnaround in the real-estate market, which is another indicator of the stabilization of the U.S. economy.

The April gain was the biggest in 7 ½ years. Economists expected a much more modest climb, in the range of 1 percent or less.

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Source:

USA Today: Pending Home Sales Rise 6.7 Percent in April