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U.S. Pending Home Sales Jump by Most in More Than Nine Years
Contract signings for existing U.S. homes surged in January, rising the most since October 2010 after slumping a month earlier, adding to signs of more momentum in the housing market. An index of pending home sales increased 5.2% from the prior month, according to National Association of Realtors data Thursday that exceeded the median forecast in a Bloomberg survey of economists. Contract signings rose 6.7% from a year earlier on an unadjusted basis. • The rebound from the steepest drop in almost a decade is the latest sign housing remains supported by mortgage rates hovering around a three-year low as well as a ... (full story)