Pending Home Sales Fall Second Straight Month

Washington, DC, Feb. 28, 2011 -- Pending home sales fell in January for the second consecutive month, according to the National Association of Realtors.

The pending home sales index fell 2.8% in January. However, sales in December were much weaker than first thought. Sales in December were revised lower to a fall of 3.2% from the prior estimate of a 2% increase.