More good news for the US economy as pending home sales showed gains in March
More good news for the US economy as pending home sales showed gains in March. The Pending Home Sales Index is a useful indicator because it's forward-looking - it's based on contract signings and not actual deal closures. The March gain stands out because it's the first gain in the last 9 months. The index rose 3.4% from last February to 97.4. In comparison, the index is still 7.9% below last year's 105.7. Nevertheless, the March results are a good sign for the housing industry as well as the economy in general, especially after last week's dismal New Residential Home Sales report. (VIEW LINK)
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