According to the National Association of Realtors, pending home sales fell 4.4% in April from the prior month. Economists in MarketWatch’s survey had forecast a 1% rise in these contract signings for previously owned homes where the sale has not yet closed.
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April Pending Home Sales Unexpectedly Sink
A monthly gauge of existing home sales has dropped, contrary to economists’ projections, a sign that rising home prices have constrained potential buyers. So reports MarketWatch.
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