The National Association of Realtors reported today that pending home sales increased 7.4 percent from July to August, and were 8.8 percent higher than last year.
It’s the highest level of pending home sales since June 2007.
The news was unexpectedly positive, as most economists had predicted that the index would fall in August.
In the South, pending home sales only increased 2.3 percent in August but were still 2.1 percent below August of 2007.
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