After declining in five of the past six months, U.S. pending home
sales unexpectedly jumped 6.3% in April to reach a level of 88.2, the
highest level in six months, according to the National Association of
Realtors. Economists say the rising pace of foreclosures
may have helped the index.
Increase in U.S. Pending Home Sales Related to Foreclosures, Economist Says
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