NAR: Pending home sales inch forward in July

Pending home sales were mostly unchanged in July, but rose modestly for the sixth time in seven months, according to the National Association of REALTORS (NAR). The Pending Home Sales Index increased 0.5 percent to 110.9 and is now 7.4-percent above July 2014. The index has increased year-over-year for 11 consecutive months and has the third highest reading of 2015, behind April and May.

The index in the Northeast increased 4 percent to 98.8 in July, and is now 12.1-percent above a year ago. To read the entire NAR press release, click here.