Lawrence Yun

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Pending Home Sales Gain for Third Month 

Jun 02, 2009By

Amid mortgage rates holding near record lows and news that some buyers might be able to use the $8,000 first-time home buyer tax credit toward closing costs on government-insured mortgages, home sale transactions picked up for the third consecutive month in April. An index of pending home sales, calculated by the National Association of Realtors (NAR) from contracts signed in April, indicated a 6.7% month-on-month rise in activity across the US.

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