Pending home sales fell for the eighth-straight month in February, according to the latest report from the National Association of Realtors(NAR). The declines were most pronounced in the Northeast and South, while the West saw a modest increase in home sales.
Continued weakness in home sales is starting to raise eyebrows among housing analysts – the pending sales index has dropped 10.5 percent year-over-year, and is at its lowest level since October 2011.