NAR ups '09 home sales forecast

Pending sales index rises for 9th straight month

The National Association of Realtors is anticipating a 4.8 percent jump in sales of previously owned homes this year — which is higher than the 2 percent annual rise the group had forecast just a month ago and reverses a downward trend in the previous two years.

Also, NAR reported today that its index gauging pending sales of resale homes gained for the ninth month in a row in October and recorded a 31.8 percent gain compared to the same month last year.