Pending Home Sales Highest in 11 Months

Washington, DC, Aug. 28, 2014 --  Pending home sales rose 3.3% in July to reach the highest level in 11 months, according to the National Association of Realtors.

The index of pending home sales rose to a seasonally adjusted 105.9 in July, compared with 102.5 in June.

Low mortgage rates, slower home-price growth and more homes for sale are all supporting deals, NAR said.