Pending Home Sales Surge To 10 Year High

Pending Homes.jpg

Pending home sales overcame industry hurdles and increased for the third consecutive month in April, surging to the highest level in over a decade, according to the National Association of Realtors.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, hiked up 5.1% to 116.3 in April from an upwardly revised 110.7 in March and is now 4.6% above April 2015 (111.2).After last month’s gain, the index has now increased year-over-year for 20 consecutive months.

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