WASHINGTON – MODEST SIGNINGS BUMP: More Americans signed contracts to buy homes in March, up 5.1 percent from February, according to the National Association of Realtors' pending home sales index released Thursday.
BELOW HEALTHY LEVEL: Signings are 24 percent above June's reading, the low point since the housing bust. But March's 94.1 index is below 100, which is considered healthy.
GOOD INDICATOR: Contract signings are usually a good indicator of where the housing market is heading, with about 80 percent of contracts resulting in sales. But some buyers have canceled purchases after the properties were valued much lower than their initial bids.
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