American pending home sales rose in April wildly as purchasers signed contracts to receive a government tax credit. The National Association of Realtors’ index for pending sales of used homeselevated by 6.0% to 110.9 in April, the organization said Wednesday. The gain was the third in a row. Economists queried by Dow Jones Newswires had expected pending home sales would jump in April by 5.0%. First-time home-buyers raced to beat the April 30 deadline for the tax credit. Lawrence Yun, NAR’s chief economist, said sales this spring seem as strong as those last fall, before the original expiration date.
American pending home sales rose in April wildly as purchasers signed contracts to receive a government tax credit. The National Association of Realtors’ index for pending sales of used homeselevated by 6.0% to 110.9 in April, the organization said Wednesday. The gain was the third in a row. Economists queried by Dow Jones Newswires had expected pending home sales would jump in April by 5.0%. First-time home-buyers raced to beat the April 30 deadline for the tax credit. Lawrence Yun, NAR’s chief economist, said sales this spring seem as strong as those last fall, before the original expiration date.
Carroll:
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