More good news for the housing market: Pending home sales increased 3.1 percent in February to their highest level in 20 months.
A National Association of Realtors’ index based on contract signings rose to 106.9 in February. That’s 12 percent over where it was a year earlier. The Pending Home Sales Index has been above 100 — the level indicating average activity — for 10 straight months.
NAR Chief Economist Lawrence Yun said the increase in pending home sales was “driven by a steadily… …read more