Real Estate

April's dip in home sales may portend "significant gain" in May, economist says

Housing economists were left scratching their heads this week over a National Association of Realtors report showing U.S. existing home sales fell in April. In the prior month, signed contracts to purchase a home, known as pending home sales, climbed to an eight-month high and were up by nearly 4% from the prior month. You sign a contract and a month or two later you buy the home. That’s the way it’s supposed to work. So what gives?

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