Pending home sales hit two-year high: NAR

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Contracts to buy previously owned homes rose to an eight-month high in March, the National Association of Realtors said on Tuesday. The NAR’s pending home sales index increased to a reading of 105.8, up 3.8 percent from the prior month and the highest since July. February’s index was unrevised at 101.9.

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(MCT)-Signed contracts to buy previously owned homes. report. Pending sales inched up 0.3 percent to 99.5 from 99.2 in August, according to an index of pending sales from the National Association.

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 · As job growth and low interest rates continue, pending home sales across the U.S. hit a 10-year record high last month with the sales index for homes under contract rising to 116.3. The activity points to a strong selling season for this spring and into the summer. Economists do worry that the housing markets improvements [.]

pending home sales are down 21.5%. "This is still absolutely awful, confirming that the existing-homes market is now in freefall," said Ian Shepherdson, chief U.S. economist for High Frequency.

The National Association of Realtors (NAR) said its Pending Home Sale. four major regions, and the April decline put year-over-year contract signings. Price conditions are soft on the upper-end, especially in high tax states. parallels the level of closed existing-home sales in the following two months.

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Home shoppers signed 1.5% fewer contracts to buy existing homes in April. according to the National Association of Realtors' Pending home sales index.. prices are still higher than they were a year ago, but the gains have been. That has hit housing markets in higher tax states disproportionately.

 · Pending home sales rose 6.3 per cent in the Northeast and 2.2 per cent in the West but fell 0.6 per cent in the Midwest and 0.8 per cent in the South.