National Association of Realtors Says Pending Home Sales on a Record Roll

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors (NAR), Washington, D.C.

NAR’s Pending Home Sales Index — a forward-looking indicator based on contracts signed in July — increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007

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