The National Association of Realtors‘ pending home sales index increased 3.6 percent to 94.6 between May and June.
June was the fifth consecutive month of increases to the index, and was also 6.7 percent above its June 2008 score of 88.7.
The association said an abundance of affordable homes on the market combined with low interest rates have prompted more potential buyers to sign contracts. “Lower-priced homes” have been selling particularly well, the association said.
