Pending Home Sales Up First Time in Nine Months

Washington, DC, April 28, 2014 -- Pending home sales rose 3.4% in March, the first gain in nine months, the National Association of Realtors said.

The index of pending home sales hit 97.4 in March, up from 94.2 in February.

"After a dismal winter, more buyers got an opportunity to look at homes last month and are beginning to make contract offers," said Lawrence Yun, NAR's chief economist, in a press release.

However, the measure was down 7.9% from a year ago.