Pending Homes Sales Surge

Pending Home Sales Surge for Third Consecutive Month

In a reflection of the broad impact of the homebuyer tax credit and favorable housing affordability conditions, April marked the third consecutive month that pending homes sales have risen, the National Association of Realtors (NAR) reported Wednesday. NAR's pending sales index, which is based on contracts signed during the month, climbed 6 percent compared to March and soared 22.4 percent from April of last year, as buyers rushed to sign contracts before the April 30 deadline of the extended and expanded homebuyer tax credit.
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