U.S. pending home sales rise 6.0 percent in April

08:25, June 03, 2010      

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U.S. pending homes sales increased in April to the highest level since last October, according to a report released Wednesday by a leading U.S. housing research organization.

The National Association of Realtors's Index of Pending Homes -- previously owned homes -- increased 6.0 percent to 110.9 in April from an upwardly revised 104.6 in March, and is 22.4 percent higher than April 2009 when it was 90.6.

Lawrence Yun, NAR chief economist, said the surging sales in pending homes were boosted by different reasons.

"The tax stimulus, combined with improved consumer confidence and low mortgage interest rates, are contributing to surging sales," he said. "The housing market has to get back on its own feet and now appears to be in a good position to return to sustainable levels even without government stimulus, provided the economy continues to add jobs."

The tax credit, which had been initially scheduled to end in November 2009, was extended by Congress. Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to finalize the transaction to qualify for a tax credit of up to 8,000 dollars for first-time buyers and 6,500 dollars for repeat buyers.

Source:Xinhua

(Editor:黄蓓蓓)

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