Morning Minute: U.S. pending home sales hit 18-month high

Home buyer demand improved in January with the number of pending home sales (based on contract signings) climbing to a level not seen since August 2013, the National Association of REALTORS® (NAR) announced today. NAR’s Pending Home Sales Index rose to 104.2 in January. Watch a new NAR video with Lawrence Yun, chief economist for NAR.

“Contract activity is convincingly up compared to a year ago despite comparable inventory levels. The difference this year is the positive factors supporting stronger sales, such as slightly improving credit conditions, more jobs and slower price growth.” —  Lawrence Yun.

In other headlines:

Nearly 80% of Housing Markets Are Stabilizing – Daily Real Estate News

Living Small In The City: With More Singles, Micro-Housing Gets Big – NPR

U.S. pending home sales hit one-and-a-half-year high in January – Reuters

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