Pending home sales rise in April

Pending home sales rose 6.7 percent in April, according to numbers released today by the National Association of Realtors. It’s the third consecutive monthly increase and a 3.2 percent rise from April 2008. NAR chief economist Lawrence Yun said the numbers are starting to reflect the impact of the $8,000 first-time buyer tax credit. In the Northeast, the pending home sales index rose 32.6 percent and is 0.8 percent higher year-over-year. TRD