After declining to the slowest pace in more than three years, pending home sales increased last month. Out front of the rise was the Northeast.
The seasonally adjusted Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, was 107.5 as of February.
The index escalated by more than 3 percent from the downwardly revised level the preceding month — when it came in lower than it’s been since October 2014.
Source: Mortgage Daily