Pending home sales post increase of 6.3%

Pending U.S. home sales rebounded in December, as buyers snapped up properties at deep discounts, especially in the South and Midwest. The National Association of Realtors said Tuesday its seasonally adjusted index of pending sales for preowned homes for December rose 6.3% to 87.7 from an upwardly revised November reading of 82.5. That's better than the 82.3 reading economists expected, according to a survey by Thomson Reuters. The reading also was up 2.1% from December 2007.

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