Previously owned homes see 6.7% increase in pending sales

06/3/2009 | Reuters

Pending sales of existing homes posted their third consecutive monthly increase in April -- 6.7% -- the biggest improvement in more than seven years, according to the National Association of Realtors. "It's a very positive and encouraging number," said William Hornbarger, senior fixed-income strategist at Wachovia Securities. "It plays into the green-shoots, economy-stabilization story."

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