Topics

Mortgages
Pending home sales rise to 18-month high, signals housing rebound
Pending home sales rise to 18-month high, signals housing rebound

The number of Americans signing contracts to buy homes rose at a healthy pace in January, a sign that home sales are poised to accelerate after a slow start to the year. The National Association of Realtors said Friday that its seasonally adjusted pending home sales index increased 1.7% to 104.2 last month. December's figure was also revised higher to show a decline of only 1.5%, considerably better than an estimated drop of 3.7%. The index is now 8.4% above its level one year ago and is at the highest level since August 2013. The data point to a rebound in sales of existing homes in the coming months, particularly as the spring buying season gets underway. Measures of sales and...

Loading