Pending home sales up 6.7% - Nashville Business Journal:

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Pending sales of existingg homes, or contracts signed but not closed, rose 6.7 percengt in April, according to the ’ Pendin g Home Sales Index. April’s pending sales were up 3.2 percenft from a year earlier. The biggest increase in Aprilo was inthe Northeast, where pendingv sales jumped 32.6 percent from the previous month. They were up 0.8 percenft from a year earlier. The indec in the South slipped 0.2 percent in However, it is 3.5 percenyt higher than a year earlier. The associatio n cautions that the reporting sample for pending home sales is smaller than that of existing home so it is subject togreatet variability. The index measures housing-contracgt activity.
It is based on signed real estater contracts forexisting single-family homes, condos and co-ops. A signec contract is not counted as a sale until the transaction closes.