Economy, Pending Home Sales | featured news

A measure of the number of Americans who signed contracts to buy homes rose in January from December to the highest level in more than 2 ½ years. The increase suggests sales of previously occupied homes will continue rising in the coming months. The National Association of Realtors says its seasonally adjusted index for pending home sales rose 4.5 percent last month to 105.9. That's the highest since April 2010, when a homebuyer's tax credit was about to expire.

A measure of Americans who signed contracts to buy homes fell last month after reaching a 2 1/2-year high in November. Sales were held back by a limited supply of available homes. The National Association of Realtors said Monday that its seasonally adjusted index for pending home sales dropped 4.3 percent in December from November to 101.7. That's still 6.9 percent higher than a year ago.

An index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years.

Contracts to buy previously owned U.S. homes unexpectedly fell in June as fewer properties came on the market, an industry group said on Thursday, pointing to weak home resales in July.

The number of people who signed contracts to buy homes rose in August for the second straight month but remained far below last year's pace.

The stock market rebounded Wednesday after a stronger-than-expected increase in pending home sales restored investors' optimism about the economy.

The wobbly housing market is showing a rare sign of strength: pending home sales were up significantly in February, a report released Monday said, suggesting that Americans took advantage of a tax credit for home buyers.

The 16 percent decline in November was far larger than the 2 percent expected by economists.