January may have been a weak month for home sales, but it was a strong month for contract signings.
Pending home sales jumped to their highest level since August 2013, according to the National Association of Realtors. The group’s Pending Home Sales Index, which is based on contract signings, rose from 102.5 in December to 104.2 in January. That’s well above January 2014’s 96.1 level.
“Contract activity is convincingly up compared to a year ago despite comparable inventory levels,” said NAR Chief… …read more