A report released by the National Association of Realtors showed pending home sales in the U.S. plummeted by much more than expected in the month of April. NAR said its pending home sales plunged by 3.9 percent to 99.3 in April after tumbling by 1.6 percent to a revised 103.3 in March. A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale. Powered by Commodity Insights
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