Nation: Pending Homes Sales Increased 7.4% From July To August

The National Association of Realtors® released reports of the highest increase in pending home sales since June of 2007. The group said its seasonally adjusted index of pending sales for existing homes rose to 93.4 from an upwardly revised July reading of 87. Wall Street economists surveyed by Thomson/FR had predicted the index would fall to 84.9. The index had sunk to a record of of 83 in March.