Home Sale Rise Helps Offset Gloomy Jobs Data

Pending sales climbed at a seasonally adjusted rate of 2.1 percent in February from the previous month, according to the NATIONAL ASSOCIATION OF REALTORS®, up from an all-time low.

Double-digit gains in pending sales were posted in the Midwest and Northeast, and the report also shows home prices pushing the group’s affordability index to record heights.

However, other economic reports show the loss of more than 600,000 jobs in March and a 4.1 percent, month-to-month decrease in residential construction spending in February.

Source: New York Times, Jack Healy

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