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Housing market revived in April

In a sign that the housing market may be set for a rebound, the pending home sales index increased 6.3% in April.

In a sign that the housing market may be set for a rebound, the pending home sales index increased 6.3% in April, the National Association of Realtors reported today.

The increase in the index, which measures signed sales contracts, is the highest since October but 13.1% lower than April 2007.

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