March pending home sales index up 0.4 percent from February, but down 3.0 percent year-on-year

The Pending Home Sales Index inched up 0.4 percent to 107.6 in March from a downwardly revised 107.2 in February. Even with last month's increase in activity, the index declined on an annualized basis (3.0 percent) for the third straight month.

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