Pending home sales jump 6.7 percent - Houston Business Journal:

http://www.built-to-spec.com/blog/2010/08/16/cricut-direct-pc-control-working/
Pending sales of existing homes, or contracts signed but not rose 6.7 percent in April, accordingt to the . April's pendingg sales were up 3.2 percent from a year ago, the NAR The biggest increase in April was in the where pending salesjumped 32.6 percent from the previous month. The NAR'a pending home sales indes is a forwardlooking gauge, and the group cautions that it is more volatild than actual closed sales. "The relationship betweenh contracts on pending home sales and closings on existin home sales is takingb longer than in the past for several said NAR chief economistLawrence Yun.
"Mortgage processin time has increased, it is taking many monthx to close on those homes requiring short saleds withlender approval, and some saleds are falling through at the last moment." Still, Yun said he believees the housing market has already bottomed out in some The group last week reported closed sales of existinv homes rose 2.9 percent in April. The NAR's housing affordability index was also atits second-highest level on record in April.