WASHINGTON (AP) - 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.
There is generally a one- to two-month lag between a signed contract and a completed sale.
Sales of previously occupied homes ticked up in
January after rising to their highest level in five years in 2012.
Steady hiring and near record low mortgage rates have encouraged more
Americans to buy homes.
