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Pending sales of existing or contracts signed butnot closed, rose 6.7 percen in April, according to the ’ Pendingb Home Sales Index. April’s pending sales were up 3.2 percent from a year earlier. The bigges increase in April was in the where pending salesjumped 32.6 percent from the previous month. They were up 0.8 percent from a year The index in the Southslippeds 0.2 percent in April. However, it is 3.5 percent higher than a year earlier. The association cautions that the reporting sample for pending home sales is smallee than that of existinghome sales, so it is subject to greatefr variability. The index measures housing-contract activity.
It is basedc on signed real estate contractd forexisting single-family homes, condos and A signed contract is not counted as a sale untipl the transaction closes.
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