5x: Pending Sales up Fifth Straight Month

Pending U.S. home sales rose in June for the fifth straight month, (first time since 2003) the National Association of Realtors reported Tuesday.Pending home sales index rose 3.6 percent to 94.6, from an upwardly revised reading of 91.3 in May. Economists surveyed by Thomson Reuters expected the index to come in at 91.2.

“The housing market is he

aling and the patient is getting healthier at an accelerating pace,” said economist Joel L. Naroff, president of Naroff Economic Advisors Inc.