Member access

4-Traders Homepage  >  Shares  >  Euronext Paris  >  APRIL    APR   FR0004037125


SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

APRIL GROUP : U.S. pending home sales rise 6.7 percent in April

06/02/2009 | 10:01am US/Eastern

Pending sales of previously owned U.S. homes in April unexpectedly saw their biggest monthly gain in 7-1/2 years, a report from a trade group on Tuesday showed, buttressing views the U.S. recession was easing.

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in April, rose 6.7 percent in April to 90.3 from 84.6 in March.

It was the biggest monthly increase since October 2001 and it took the index 3.2 percent above its year-ago level in the latest sign the battered U.S. housing sector was stabilizing.

Economists polled by Reuters ahead of the report were expecting pending home sales to rise 0.5 percent.

The downturn in the U.S. housing market touched off a global credit crisis that sent economy's worldwide tumbling into recession. Now, signs are emerging that the global economy is beginning to heal.

The association's senior economist, Lawrence Yun, credited improved home affordability and a new government program that provides an $8,000 tax credit for first-time homebuyers for the surge in buying activity.

The NAR said its Housing Affordability Index, which blends factors like home prices and mortgage rates, was "in record territory" with 30-year mortgage rates hovering around 5 percent and an abundance of homes on the market.

(By Patrick Rucker; edited by Neil Stempleman)

Recommend :
React to this article
Latest news on APRIL
2d ago Europe's car companies using price to fight for market space - Urquhart
2d ago Diageo continues to bet on Asia despite bump in the road - Hunter
2d ago Sunil Kashyap of Scotiabank talks about fluctuating gold demand in India and ..
3d ago Credit Suisse over-punished by market - Alloatti
3d ago China's growth of 7.4% a positive surprise - Schulz
3d ago John Zhu of HSBC talks about China's just-released GDP figures for 2014.
5d ago S&P 500 will hit 1,800, bounce and then drop - Sneddon
04/11 Euro to gain amid Draghi's QE talk - Maher
04/11 China's domestic infrastructure spending and the country's services sector ar..
04/10 Greece is back to the bond market, but it's not out of the woods yet - Econom..
Duration : Period :
APRIL Technical Analysis Chart | APR | FR0004037125 | 4-Traders
Income Statement Evolution
APRIL : Income Statement Evolution
More Financials
Dynamic quotes