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Monday
Feb272012

Pending Home Sales Rise to Highest Level in Two Years

Ryan McVay/Thinkstock(WASHINGTON) -- Pending home sales rose by two percent last month to the highest level in nearly two years, according to a report out Monday from the National Association of Realtors.

“This is a good number,” economist Hugh Johnson said Monday. “It was a little bit better than expected.”

“It pretty much indicates that activity in the housing market -- let's not say it's picking up -- that might be too strong a word, but certainly [it’s] bumping along the bottom.”

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