The housing market showed signs of improvement as pending home sales increased 6.7% in April, the National Association of Realtors reported today. It was the third consecutive monthly rise.
The association's pending home sales index was 90.3, compared with 84.6 in March. The April index was 3.21% higher than in April 2008.
"Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market," National Association of Realtors Chief Economist Lawrence Yun said in a statement.
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