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by CareyBot

Homebuyers signed fewer contracts for existing homes in January compared to December, but more compared to January 2009, according to a report released Thursday by the National Association of Realtors. The index dropped 7.6 percent to a seasonally adjusted annual rate of 90.4 from an upwardly revised 97.8 the month before; the index rose 12.3 percent year-over-year, however, from 80.5, the report said. The association's Pending Home Sales Index is based on the number of signed contracts for resale homes including single-family homes, condominiums and co-ops. An index score of 100 corresponds to the average level of contract activity for the index's base year, 2001, when activity was at a record high, the association said. The data comes from more than 100 multiple listing servic...