Pending Home Sales Near Two-Year Low

Washington, DC, Feb. 28, 2014 — Pending home sales rose 0.1% in January, but remained near a two-year low, the National Association of Realtors reported.

The index of pending home sales was 95 in January, compared with 94.9 in December, which was the lowest reading since November 2011.

Low inventory, declining affordability and poor weather are depressing sales, NAR said.