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U.S. pending home sales jump 3.4% in March

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Investing.com -

Investing.com - Pending home sales in the U.S. rose significantly more than expected in March, easing concerns over the housing sector, industry data showed on Monday.

In a report, the National Association of Realtors said its pending home sales index jumped by a seasonally adjusted 3.4% last month, easily surpassing expectations for a 1% gain.

Pending home sales for February were revised to a 0.5% drop from a previously reported decline of 0.8%.

Year-on-year, pending home sales fell at annualized rate of 7.4% in March, better than expectations for a 10.3% decline.

Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD rising 0.23% to trade at 1.3866.

Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Composite rose 0.55%, the S&P 500 advanced 0.35%, while the NASDAQ Composite inched up 0.5%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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