Aug. Pending Home Sales: +6.4% vs. July (consensus was +1%), and +12.4% vs. a year ago, the...

|By:, SA News Editor
Aug. Pending Home Sales: +6.4% vs. July (consensus was +1%), and +12.4% vs. a year ago, the seventh straight monthly rise. The index is at the highest level since March 2007. The rise "shows buyers are returning to the market and signing contracts," NAR's Lawrence Yun says, adding that some deals aren't closing due to "complex new appraisal rules."