U.S. pending home sales rebound to nine-year high

The housing market south of the border continues to show growth with new data showing that pending home sales have hit a nine-year high.

The National Association of Realtors reported that its index of contracts to purchase homes is at its best level since 2006, rising 0.9 per cent to 112.6 in May.

Year over year the index rose 10.6 per cent. 

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