Tag Archives: but Solidly Higher Than Last Year

Pending home sales were down slightly in February, but remain notably above the pattern in the first half of 2011, according to the National Association of REALTORS(R). The Pending Home Sales Index, a forward-looking indicator based on contract signings, eased 0.5 percent to 96.5 in February from 97.0 in January, but is 9.2 percent above February 2011 when it was 88.4.  The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said we’re seeing the continuation of an uneven but higher sales pattern.  “The spring home buying season […]