Home Sales to Increase, According to Index

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For the third month in a row, the number of people who signed contracts to purchase homes increased. This is another sign that the housing market may have begun to recover.

The National Association of Realtors said its index of pending-home sales rose 6.7% in April to 90.3 from 84.6 in March. Increases in contract signings typically lead to more sales a month or two later. Much of the April increase came from the Northeast, where contract signings rose 32.6%. Signings rose 9.8% in the Midwest and 1.8% in the West; they slipped 0.2% in the South.

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