NAR: Pending real estate sales jump in January

Existing-home sales expected to rise 6.8% this year

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

More homes went under contract in January compared to December and a year ago, according to an index released today from the National Association of Realtors that tracks pending sales of existing U.S. homes.

NAR’s Pending Home Sales Index, which is based on purchase contracts signed but not yet closed, rose 8 percent from January 2011 and 2 percent from a downwardly revised 95.1 percent in December, to 97. According to revised figures, that’s the highest index score since April 2010, just before the deadline for a federal homebuyer tax credit program, when the index was at 111.3.