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Pending Sales of Existing U.S. Homes Rise to Highest Since 2013
More Americans signed contracts to purchase previously owned U.S. homes in January, rounding out a week of housing data that depicted an uneven recovery. The index of pending sales climbed 1.7 percent after a 1.5 percent drop the prior month that was smaller than initially estimated, figures from the National Association of Realtors showed Friday in Washington. The median forecast of 38 economists surveyed by Bloomberg called for a 2 percent rise. Employment gains and near record-low mortgage rates will help to underpin demand. A lack of properties for sale, higher prices and still-tight credit are hurdles for some ... (full story)