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Pending sales of U.S. existing homes rise by 8.2pct, almost triple forecasts

Posted on 30 June 2011

Patrick NewportThe number of contracts to buy previously owned U.S. homes rose almost three times as much as forecast as falling prices made properties more affordable.
The surprising 8.2 percent increase in the index of pending home resales from April followed a revised 11 percent drop the prior month, the National Association of Realtors said today in Washington. Economists forecast a 3 percent gain, according to the median estimate in a Bloomberg News survey……………………………………….Full Article: Source


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