October 4, 2006

August Pending Home Sales Rises 4.3 Pct

August Pending Home Sales Rises 4.3 Pct

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According to a trade association, pending sales of U.S. homes rose 4.3 percent in August in a sign the nation's housing market might be stabilizing.

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he National Association of Realtors said its Pending Home Sales Index, based on contracts signed each month, rose to 110.1 from 105.6 in July.

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It was the first increase since May. Still, the index was 14.1 percent lower than August 2005, when the nation's housing market was near its peak.

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