Saturday, August 30, 2014

Contracts to buy US homes rise in hopeful sign

By JOSH BOAK The Associated Press

<br />This July 10, 2014 photo shows a house with sale pending sign in Quincy, Mass. The National Association of Realtors releases pending home sales index for July on Thursday, Aug. 28, 2014. <br />

WASHINGTON -- More Americans signed contracts to buy homes in July, a sign that buying has improved as mortgage rates have slipped, the number of listings has risen and the rate of price increases has slowed.

The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index rose 3.3 percent to 105.9 last month. Still, the index remains 2.1 percent below its level a year ago.

Ian Shepherdson, chief economist at Pantheon Macroeconomics, called the increase "positive" but stressed that home buying was unlikely to strengthen significantly > MORE WASHINGTON: Contracts to buy US homes rise in hopeful sign - Business Breaking News - MiamiHerald.com

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