Home-Sale Index Skyrockets, Boosting Recovery Hopes

By Marie Morris,  Newser Staff
Posted Jun 2, 2009 10:05 AM CDT
Home-Sale Index Skyrockets, Boosting Recovery Hopes
Chart shows seasonally adjusted annual rate of pending US home sales

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.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.