Pending Home Sales In February Climb To 20-month High

Pending home sales in February reached their highest level since June 2013, a trade group said Monday. The National Association of Realtors said its pending-home-sales index rose 3.1% to 106.9 after a downward revision to January's numbers. The index is up 12% from February 2012 levels. A sale is listed as pending when the contract has been signed but the transaction has not closed. Total existing-homes sales in 2015 are forecast to be around 5.25 million, an increase of 6.4%, and the national median existing-home price is expected to increase around 5.6%.