Economics
U.S. Pending Home Sales Rebound to a Seven-Month High in August
- Index rose for the first time in three months, NAR data show
- Moderating price gains, more inventory are drawing buyers back
Photographer: Micah Green/Bloomberg
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A gauge of U.S. pending home sales rebounded in August to a seven-month high as prospective buyers welcomed more attractive pricing and additional inventory.
The National Association of Realtors’ index of pending home sales increased 8.1% from a month earlier to 119.5, the first advance in three months, according to data released Wednesday. The median estimate in a Bloomberg survey of economists called for a 1.4% advance.