<<< back to article list

Lean inventories hold back U.S. pending home sales

Blog by Brad Herman | March 28th, 2013

Contracts to buy previously owned homes fell in February, held back by a shortage of properties, but there is little to suggest that the housing market recovery is stalling.

The National Association of Realtors said on Wednesday its Pending Home Sales Index, based on contracts signed last month, slipped 0.4 percent to 104.8. Still, contracts last month remained at the second highest level in nearly three years.