US Pending Home Sales Unexpectedly Rise to Highest Since August
- Contract signings rose 0.8%, marking third-straight increase
- Sales climbed in February in all regions except for the West
A finished home between two homes under construction in Sumter, South Carolina.
Photographer: Micah Green/BloombergThis article is for subscribers only.
US pending home sales unexpectedly rose in February for a third month, adding to signs that the housing market may be stabilizing after a tumultuous year.
The National Association of Realtors’ index of contract signings to purchase previously owned homes increased 0.8% last month to 83.2 — the highest since August — according to data released Wednesday. The median estimate in a Bloomberg survey of economists called for a 3% decline.