Pending Home Sales Up, Market Still Down

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More Americans signed contracts to buy homes last month but analysts say it's still not enough to signal a rebound in the housing market.

Housing contract agreements rose 5.1 percent in March, the highest level in almost a year.

Still, home sales today are half the pace of those in 1963, despite there being 120 million more people living in the United States.

High unemployment and strict lending standards are still preventing some people from buying homes.

Economists say it will be years before the housing sector recovers.

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