US Pending Home Sales Rise 4 Percent in August, Reversing July Decline

U.S. pending home sales rose 4 percent month-over-month in August, a significant reversal from July’s 0.4 percent decline and well above the consensus estimate of a 0.3 percent increase, according to a Sept. 29 report from the National Association of Realtors (NAR).

Pending home sales rose 3.8 percent year-over-year in August, according to the report, which tracks national data on homes under contract.