Pending sales of existing houses on 5-month improvement streak

08/5/2009 | Bloomberg

The number of signed purchase agreements for existing homes in the U.S. rose 3.6% in June, the National Association of Realtors said. The surge followed a 0.8% increase in May and marks the fifth consecutive month of improvement. "It's a modest recovery; however, these numbers are exceeding people's expectations," said David Sloan, senior economist at 4Cast.

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