NAR: Contract signings jump to near decade high

Pending home sales posted a strong rebound in February, soaring to the highest level in nearly a year and the second highest level in more than a decade, according to the National Association of REALTORS’ Pending Home Sales Index, a forward-looking indicator based on contract signings.

In the Northeast, pending home sales increased 3.4 percent to a reading of 102.1 in February, and are now 6.6 percent higher than a year ago.

Nationwide, pending home sales rose 5.5 percent month-over-month to a 112.3 reading, 2.6 percent higher than a year ago. 

To read the entire NAR press release, click here.