Don’t count your chickens, but pending sales rise

Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors (NAR) The last time there were five consecutive monthly gains was in July 2003.

Based on contracts signed in June, the NAR’s forward-looking index rose 3.6 percent, to 94.6, from an upwardly revised reading of 91.3 in May.  It is 6.7 percent higher than one year earlier. Continue reading