Pending Home Sales Rise in February

Washington, DC, March 28, 2011 -- Pending home sales rose in February in all parts of the U.S. except for the Northeast, according to the National Association of Realtors.

NAR said its index of pending home sales rose 2.1% to 90.8 in February, the first increase in three months.

However, the index is still 8.2% below a year ago, when a federal tax credit was still in effect.