Pending Homes Sales Up 43

10.04.10 | FL News Team

(Washington, DC)  --  Pending home sales rose four-point-three-percent in August.  The National Association of Realtors reports this follows a July uptick in home contracts signed.  NAR chief economist Lawrence Yun says the recent figures point to a gradual improvement in home sales in the coming months thanks to low mortgage interest rates and home prices.  He also said improving the pace of sluggish home sales in this tough economy depends largely on creating more jobs and better consumer confidence.

The biggest August increase in pending home sales was in the South, where the NAR's Pending Homes Sales Index rose six-point-seven-percent.  However, in every major region of the country, this home sales measure remains substantially below index levels reached one year ago.