Contracts for home sales rose 5.1% in March; mortgage rates drop

WASHINGTON — More Americans signed contracts to buy homes in March, but sales were uneven across the country and were not strong enough to signal a rebound in housing.

Sales agreements for homes rose 5.1% last month to a reading of 94.1, according to the National Association of Realtors’ pending home sales index, released Thursday.

Signings are more than 20% above June, the low point of the housing bust. But the index is below 100, which is considered a healthy level.

Sales rose in every region but the Northeast.

Source: By AP, USA Today (April 29th, 2010)

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