NAR reports increase in Pending Home Sales

"The Pending Home Sales Index,* a forward-looking indicator, rose 4.3 percent to 82.3 based on contracts signed in August from a downwardly revised 78.9 in July, but is 20.1 percent below August 2009 when it was 103.0. The data reflects contracts and not closings, which normally occur with a lag time of one or two months."

This is the second good report for housing in the last 2 weeks! Although we are still lagging way behind 2009, it looks like maybe we are going in the right direction.