U.S. home sales could lift through summer

Washington -- U.S. home sales could lift over the next two months, the National Association of Realtors said Monday.

The Pending Home Sales Index for April was 88.2, an improvement over March's forward-looking index of 83.0, the association said.

"Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines" NAR chief economist Lawrence Yun said in a statement.

"The West is already seeing year-over-year gains in pending contracts," he said.

In the West, the monthly index gained 8.3 percent to 98.8. In the Midwest, it gained 13 percent to 83.7. In the South, it increased 4.6 percent to 88.8, while in the Northeast the index fell 1.9 percent to 79.3.

Copyright 2008 by United Press International.