The National Association of Realtors reported Wednesday on impressive rise in pending home sales in January. Pending home sales grew from -4,3 in December to +4.5% in January, the highest level since April 2010, when buyers rushed to make a tax-credit deadline.
The pending-home-sales index increased to 105.9 in January from 101.3 in December. An index reading of 100 equals the average level of contract activity during 2001, the first year of data.
January's reading was up 9.5% from the same period in the prior year, the 21st consecutive year-over-year gain.
January pending-home-sale gained most in the Northeast, to the mark of 8.2%, than goes the South 5.9%. The Midwest reported on 4.5% increase and n the West pending home sales grew 0.1%