US Pending home sales rise to 9-year high in April

FXStreet (Mumbai) – The US National Association of Realtors (NAR) data released on Thursday showed pending home sales increased in April for the fourth consecutive month to reach the highest level in nine years.

The index from the National Association of Realtors reached a seasonally adjusted 112.4 in April, up 3.4% from 108.7 in March and 14% from a year earlier. The consensus estimate called for a 0.9% rise. The previous month’s print was revised higher to 1.1%.

As per Lawrence Yun, NAR’s chief economist “Realtors are saying foot traffic remains elevated this spring despite limited, and in some cases severe inventory shortages in many metro areas.”

The US National Association of Realtors (NAR) data released on Thursday showed pending home sales increased in April for the fourth consecutive month to reach the highest level in nine years.

(Market News Provided by FXstreet)