* Pending home sales soar 6.7 pct in April

* Gain is largest monthly increase since Oct 2001

* Ford, GM, Chrysler see sales fall 24 to 47 pct

By Patrick Rucker

WASHINGTON, June 2 (Reuters) - Pending sales of previously owned U.S. homes shot up by 6.7 percent in April, the biggest monthly gain in 7-1/2 years, according to a report on Tuesday that buttressed views the U.S. recession was easing.

And separate reports showing that U.S. auto sales fell by about 30 percent in May from last year provided another glimmer of optimism, with sales looking likely to beat analysts' modest expectations for the battered sector [ID: N02511678]

The National Association of Realtors said its Pending Home Sales Index, based on new sales contracts, rose to 90.3 in April from 84.6 in March.

It was the third straight monthly increase and the largest jump since October 2001. The gain took the index 3.2 percent above its year-ago level, compared with economists' expectations for a rise of just 0.5 percent.

"It's a very positive and encouraging number. It plays into the 'green shoots,' economy stabilization story," said William Hornbarger, senior fixed income strategist at Wachovia Securities in St. Louis.