Feb. Pending Home Sales Rise More-Than-Expected to 2.1%
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The number of Americans signing contracts to buy previously-owned homes last month rose more than expected, but failed to make up for the lost ground in the previous period.
The National Association of Realtors reported Monday that pending home resales rose 2.1 percent in February, improved from a drop of 2.8 percent in January.
Economists had estimated no change in the index, as the housing market continues to lag behind the rest of the economic recovery.
From the same month last year, pending home sales were down 9.3 percent.
Three of four regions showed an increase in contract signings, led by a 7 percent gain in the West. Pending sales fell 11 percent in the Northeast.
The National Association of Realtors reported Monday that pending home resales rose 2.1 percent in February, improved from a drop of 2.8 percent in January.
Economists had estimated no change in the index, as the housing market continues to lag behind the rest of the economic recovery.
From the same month last year, pending home sales were down 9.3 percent.
Three of four regions showed an increase in contract signings, led by a 7 percent gain in the West. Pending sales fell 11 percent in the Northeast.
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