Is it the end of the housing crisis?

The National Association of Realtors released a report on June 9th, 2008 stating that pending home sales in April 2008 increased nationwide by 6.3 percent from March 2008, defying the prediction that the index would remain steady. This is the biggest one-month gain since 2002, interrupting a 5-month streak of declines. The National Association of Realtors’ seasonally adjusted index of pending sales for existing homes rose to 88.2, from a March reading of 83.0, the lowest since the index was started in 2001. It was still 13 percent below April 2007’s reading of 101.5. A reading of 100 indicates the …

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