Pending home sales leap in April

Surges in Northeast, Midwest drive trend

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Pending home sales rose 6.7 percent in April, as a strong surge in homes under contract in the Northeast and Midwest outweighed flat demand in the South and West, the National Association of Realtors reported today.

NAR’s Pending Home Sales Index, based on contracts signed in April, rose 6.7 percent to 90.3, up from 84.6 in March and an improvement of 3.2 percent from a year ago.