Pending Sales of Homes in US Creep Up as Borrowing Costs Drop
- Realtors index of contract signings rose 0.6% in August
- Measure remains near record low as home prices stay elevated
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US pending home sales ticked up in August from a record low, as falling mortgage rates encouraged some buyers to dip a toe into the market.
A measure of contract signings for previously owned homes climbed 0.6% to 70.6 last month, according to data released by the National Association of Realtors Thursday. That came in below the median estimate of economists surveyed by Bloomberg, who had the index rising 1%.