U.S. Pending Homes Sales Up 8th Straight Month

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in September, increased 6.1 percent compared to August, and the index is 21.2 percent higher than September 2008.

The index, which covers the United States, is at the highest level since December 2006, the National Association of Realtors® (NAR) reported November 2, 2009. The following is a video featuring the NAR chief economist Lawrence Yun.