Pending Home Sales Up in April Jun 3, 2009

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The number of U.S. homebuyers who agreed to purchase a previously occupied home posted the largest monthly jump in nearly eight years in April. The National Association of Realtors' seasonally adjusted index of sales contracts signed in April increased 6.7% to 90.3.

The index was 3.2% above last year's levels and has risen for three straight months after hitting a record low in January. There was a nearly 33% sales increase in the Northeast and a 9.8% jump in the Midwest. Sales contracts rose 1.8% in April from a month earlier in the West, but fell 0.2% in the South.

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