According to the recent statistics from National Association of Realtors (NAR), the pending sales of existing homes soared 6.7 percent during the month of April, thereby marking a 3.2 percent increase from the pending homes' sales figures a year back!

According to NAR, its Pending Home Sales Index - based on new sales contracts, which have been signed but not closed - had increased to 90.3 in April from the March figures of 84.6. Northeast marked the highest April increase, with pending sales jumping 32.6 percent from their March number.

The April increase in the pending homes sales data not only indicated the third monthly rise in a row, but also the biggest heave since October 2001! Commenting on the rise, William Hornbarger, senior fixed income strategist at St. Louis' Wachovia Securities, said: "It's a very positive and encouraging number. It plays into the 'green shoots,' economy stabilization story."

Meanwhile, as per the reports pertaining to the US auto industry, the year-on-year auto sales plunged 30 percent in May. Nonetheless, the sales for the recession-hit sector are likely to beat the somewhat modest forecasts by the analysts.

In fact, the most recent autos data reveals that industry-wide sales for May headed in the right direction of surpassing 10 million units on the annualized basis as tracked by analysts!