Pending home sales jump 3.1% in February, Realtors say

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Pending home sales jump 3.1% in February, Realtors say

By ANDREW KHOURI

Pending home sales rose more than expected in February, a trade group said, a sign the housing market may be in for a spring rebound.

Signed contracts for previously owned homes climbed 3.1% from January to the highest level since June 2013, the National Assn. of Realtors reported Monday.

The February increase is a positive sign ahead of the typically busy spring selling season. Pending sales reflect signed contracts, and they usually become final within one or two months.

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