June Pending Home Sales Rose 5.3%

Lara Moscrip, CNNMoney.com staff writer reported on 8/7/08 Thursday that The National Association of Realtors' (NAR) reported Pending Home Sales Index rose 5.3% in June to 89 from a downwardly revised reading of 84.5 in May.

"The vacillation of data from one month to the next indicates a housing market in transition," said Lawrence Yun, NAR chief economist. "The rise in pending home sales was broad-based with all four regions showing gains."