House sales beat estimates in March
Monday, April 29, 2013 4:06 PM
More Americans than predicted signed contracts in March to buy previously owned homes, according to a report today from the National Association of Realtors, Bloomberg said. The index of pending home sales increased 1.5 percent after a revised 1 percent decline the prior month that was larger than initially reported. Economists had forecast a 1 percent increase, according to the median estimate in a Bloomberg survey. Historically low borrowing costs and improvement in the labor market are helping power the housing market, boosting home prices and spurring the economic expansion, Bloomberg said. Read more.