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Pending home sales rebound after 17 months of consecutive declines 

The nation’s healthy economic environment drove an increase in pending home sales, pushing the index forward 2.8% in June, according to the latest report from the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, slightly increased to 108.3 in June, rising from May’s 105.4. NAR’s Chief Economist Lawrence Yun said June’s 2.8% increase can be attributed to the nation’s current favorable conditions and predicted last month’s rise is likely the start of a positive trend for home sales.