Pending Home Sales Rise in April
Washington, DC, May 28, 2014 -- Pending home sales rose 0.4% in April, the National Association of Realtors reported Thursday.
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It was the second consecutive month of gains.
The index of pending home sales hit 97.8 in April, the highest reading since November, compared with 97.4 in March.
"Higher inventory levels are giving buyers more choices, and a slight decline in mortgage interest rates this spring is raising prospective home buyers' confidence," said Lawrence Yun, NAR's chief economist.
Nevertheless, pending sales were down 9.2% from a year ago.