Pending home sales rise in February

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homeBut Realtor index remains 4.1% behind a year earlier.

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The National Association of Realtors’ Pending Home Sales Index rose 3.1% to 107.5 in February from a downwardly revised 104.3 in January, 4.1% below a year ago, the group reported Wednesday.

The PHSI in the Northeast surged 10.3% to 96.0 in February, 5.1% below a year ago. In the Midwest the index inched forward 0.7% to 98.9 in February, 9.5% lower than February 2017. Pending home sales in the South rose 3.0% to an index of 125.7 in February, 1.5% lower than last February. The index in the West climbed 0.4% in February to 96.9, 2.2% below a year ago.

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