RTTNews - With homebuyers responding to very favorable market conditions, including record low mortgage interest rates, a report released by the National Association of Realtors on Tuesday showed that pending home sales increased by much more than expected in the month of April.

The report showed that the pending home sales index rose 6.7 percent to 90.3 in April from a reading of 84.6 in March. Economists had been expecting a much more modest increase by the index of about 0.5 percent.

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