Pending Home Sales Edge Up in September

Washington, DC, Oct. 25, 2012 -- Contracts for home resales rose 0.3% in September, according to the National Association of Realtors.

"This means only minor movement is likely in near-term existing home sales, but with positive underlying market fundamentals they should continue on an uptrend in 2013," said NAR chief economist Lawrence Yun.

Contracts were up in three of the country's four regions. They fell 5.8 percent in the Midwest to the lowest rate since January.