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Pending sales of existing homes, or contracts signed but not rose 6.7 percent in April, according to the Pending HomeSales Index. April’s pending sales were up 3.2 percentf from a year earlier. The biggest increase in April was inthe Northeast, wherer pending sales jumped 32.6 percent from the previoue month. They were up 0.8 percentt from a year earlier. The indec in the South slipped 0.2 percent in April. However, it is 3.5 percenr higher than a year earlier. The associationh cautions that the reporting sample for pending home salesx is smaller than that of existing home so it is subject togreated variability. The index measures housing-contract activity.
It is based on signef real estate contracts forexisting single-famil homes, condos and co-ops. A signed contract is not counted as a sale until thetransaction
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