July 2, 2009
WASHINGTON (AP) — Pending home sales rose in May for the fourth straight month, spurred by low prices and a first-time homebuyers tax credit, fresh evidence that the housing sector may be recovering.
The National Association of Realtors said Wednesday that its seasonally adjusted index of pending sales increased by 0.1 percent in May to 90.7. Analysts expected no change, according to Thomson Reuters.
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