AFP - US pending home sales rose for the third consecutive month in April as home buyers rushed to sign contracts before the expiration of a tax credit, an industry survey showed Wednesday.
The National Association of Realtors (NAR) said its pending home sales index rose 6.0 percent in April, more than the 4.3 percent rise expected by most analysts.
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The index reading was 22.4 percent higher than a year ago and was at its highest level since last October, when first-time home buyers scrambled to beat an initial deadline for the federal government's tax credit, NAR said.
The government expanded the tax-credit program in November to include certain repeat home buyers. To qualify, contracts must have been signed by April 30 and the purchase completed by June 30.
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http://www.france24.com/en/20100602-us-pending-home-sales-rise-ahead-tax-credit-deadline
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