Wednesday, July 01, 2009

Pending home sales of previously owned homes rose a little in the month of May. This marks the fourth month in a row that pending sales were up. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in May, was up 0.1 percent to 90.7 from a upwardly revised index of 90.6 in April. The index for April had previously been reported as 90.3. Economists polled by Reuters ahead of the report were expecting pending  home sales to remain unchanged.