NAR: Tax credit boosts pending real estate sales

Association forecasts new-home sales will jump 18.5% this year

The number of homebuyers signing purchase contracts rose for the third straight month in April, according to a report by the National Association of Realtors.

The association’s Pending Home Sales Index jumped to 110.9, a 6 percent month-to-month increase over March’s upwardly revised index of 104.6, the report said. Year-over-year, April’s index was up 22.4 percent.