Signed contracts to buy previously owned homes rose in September, but not by much, according to a trade group report.
Pending sales inched up 0.3% to 99.5 from 99.2 in August, according to an index of pending sales from the National Assn. of Realtors. Contracts had hit a two-year high of 101.9 in July before slipping 2.6% the next month.
At 100 on the index, pending sales are considered healthy. The gauge measures signed agreements but not closed deals, which usually come a month or two later.
The index gained in every region except the Midwest, where it fell 5.8% on a month-to-month scale. In the West, pending sales increased 4.3% to 106.9.