Home-Sale Index Skyrockets, Boosting Recovery Hopes

By M. Morris,  Newser Staff
Posted Jun 2, 2009 10:05 AM CDT
Chart shows seasonally adjusted annual rate of pending US home sales
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(Newser) – Pending sales of existing US homes soared in April, posting their largest jump since October 2001. Combined with a 3.2% jump in March, the 6.7% increase in April—far more than the forecast 0.5%—suggests a longer-term upward trend, the Wall Street Journal reports. Dipping prices, low interest rates, and the first-time homebuyer tax credit helped account for the increase, analysts said.
(Read more existing home sales stories.)