U.S. pending home sales race to nine-year high in April

May 28, 2015 2:25 PM

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U.S. pending home sales race to nine-year high in April

WASHINGTON Contracts to buy previously owned U.S. homes rose for a fourth straight month in April to a nine-year high, buoying the outlook for the housing market.

The National Association of Realtors said on Thursday its Pending Home Sales Index, based on contracts signed last month, increased 3.4 percent to 112.4, the highest level since May 2006.

Also read: Economy: Jobless claims drop to lowest since 1973; housing starts jump 11%

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