IE Business Daily Business news for the Inland Empire.
Pending home sales in the United States rose in April for the fourth consecutive month.
The Pending Home Sales Index increased 3.4 percent to 112.4 last month, a 14 percent increase compared with April 2014, according to data released Thursday by the National Association of Realtors.
That’s the highest index recorded since May 2006 and the eighth consecutive month that the index has risen year-over-year.
A pending home sales is one in which a contract to sell has been signed but the transaction has not been completed. They’re considered a strong indication of how the market is likely to perform during the next two to three month.
