NAR Pending Home Sales Report Shows 1.8% Increase in February

NAR Pending Home Sales Report Shows 1.8% Increase in February: February pending home sales rose by 1.8% from the month prior, but declined 0.8% year over year. Month over month gains occurred in the Midwest, South and West, but declined in the Northeast. Improved affordability seems to have led to a climb in pending contracts, but regions like the Northwest continued to be held back by the combination of higher home prices and a shortage of supply.