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Pending home sales fell in August compared with July but rose over 6% compared with the results in August 2014. Under the circumstances, NAR is justified in calling this result a “healthy level of activity.” For the full story, listen to Lawrence Yun, NAR chief economist. (The Pending Home Sales Index is a forward-looking indicator of the housing market. It measures home purchase contract signings and is a good indicator of actual closings in the next few months.) Here’s Lawrence:

Source: Pending Home Sales Retreat Again in August but Remain at Healthy Level | realtor.org