U.S. Vice-President Joe Biden on Tuesday said the country's housing sector is showing some signs of life after a ravaging recession.

We're seeing solid hints of stabilization in many markets, including housing, Biden told a group of investors and students at Pace University's Lubin School of Business.

His remarks came just as an industry group reported a surprisingly sharp rise in pending home sales for April.

Neal Wolin, the newly-appointed Deputy Treasury Secretary, also said he was optimistic, saying that confidence was beginning to perk up and that credit conditions were starting to ease.

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