Pending Home Sales Edge Higher in September

Washington, DC, Oct. 27, 2014 — Pending home sales rose 0.3% in September, according to the National Association of Realtors.

They hit the second highest level for this year, showing that upcoming closings of existing homes are likely to increase.

The index of pending home sales reached a seasonally adjusted 105 in September, compared with 104.7 in August.

Slower price growth and more homes for sale are likely supporting pending home sales, NAR said.

Compared to September last year, contracts were up 1%.