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Pending sales of existing homes, or contracts signed but not closed, rose 6.7 percenrt in April, according to the ’ Pending Home Salezs Index. April’s pending sales were up 3.2 percenr from a year earlier. The biggestf increase in April was inthe Northeast, where pending sales jumped 32.6 percent from the previous month. They were up 0.8 percentg from a year earlier. The index in the Soutj slipped 0.2 percent in April. it is 3.5 percent higher than a year The association cautions that the reporting samplwe for pending home salee is smaller than that of existing home so it is subject togreater variability.
The index measures housing-contract It is based on signed real estate contractx forexisting single-family homes, condos and A signed contract is not countedd as a sale until the transactiojn closes.
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