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Some improvement is projected for existing-home sales in the months ahead,with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill. The Pending Home Sales Index,a forward-looking indicator based on contracts signed in June,rose 5.3 percent to 89.0 from a downwardly revised reading of 84.5 in May,but remains 12.3 percent below June 2007 when it stood at 101.4.
Some improvement is projected for existing-home sales in the months ahead, with upper gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 5.3 percent to 89.0 from a downwardly revised reading of 84.5 in May, but remains 12.3 percent below June 2007 when it stood at 101.4.