Pending sales of previously owned U.S. homes rose more than expected to a five-month high in March.
The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in March, increased 5.3 percent to 102.9.
The surge here was a buyers rush to sign contracts before the housing tax credit expired. With this twist to the government manipulation of the economy over, expect a weaker number for April.
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