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Pending home sales rise in February

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Pending home sales rose in February, according to the National Association of Realtors' monthly index.

The NAR's pending home sales index increased by 1.8% to 72.1.

“The slight gain in pending contracts appears to be driven by improved affordability conditions,” said NAR Chief Economist Lawrence Yun. “However, those conditions could reverse if higher oil prices lead to an uptick in mortgage rates."

Read more from The Wall Street Journal.

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