Pending Home Resales Rise Third Month in Row

Washington, DC, June 2, 2009–Pending home resales rose for the third month in a row in April, boosted by record low mortgage rates and special incentives for first-time buyers, according to the National Association of Realtors.

The pending home sales index rose 6.7% in April after a 3.2% increase in March, the NAR said. The index is up 3.2% above April 2008.

The index is based on sales contracts on existing homes.