Pending Home Sales Down in July

Washington, DC, Aug. 29, 2011 -- Pending home sales fell 1.3% in July, the National Association of Realtors reported Monday.

However, the index is 14.4% above the same time last year.

Lawrence Yun, NAR chief economist, said contract activity over the past three months is fairly comparable to the first three months of the year, and well above April's low.