WASHINGTON (MarketWatch) - Pending sales of existing homes rose for the third month in a row in April, boosted by record low mortgage rates and special incentives for first-time buyers, a real estate trade group reported Tuesday. The pending home sales index rose 6.7% in April after a 3.2% increase in March, the National Association of Realtors said. The index is up 3.2% above April 2008. The index is based on sales contracts on existing homes. The NAR reports on sales of existing homes once the sales closes, usually six to eight weeks later.
