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VERWACHTING
NEW YORK (Reuters) - Sales of U.S. existing homes rose in April compared with the previous month, economists polled by Reuters forecast.
A poll of 66 economists by Reuters produced a median forecast of 4.66 million sales of existing homes on a seasonally-adjusted, annualized basis, in April. That would be up from 4.57 million sales in March.
Analysts noted that the pending sales index rose 3 percent in March, an encouraging sign for April sales.
Meanwhile, the number of existing homes for sale dropped slightly to 3.74 million in March.
Still, economists noted that foreclosures are still on the rise and that there is a large stock of "shadow" inventory, describing when would-be sellers put their houses back on the market when demand seems to be healthier.
"The trend is flat," concluded Ian Shepherdson, chief U.S. economist at High Frequency Economics in Valhalla, New York.